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Economist Mike Walden: A First in the Job Market

I’m Mary Walden with economist MW welcoming you to the economic perspective.  Today’s program looks at a first in the job market.  Mike, I understand there was a record set for the national job market recently.  What was it, and should we be celebrating?

  1. The record was, that for the first time, the number of job openings exceeded the official number of unemployed
  2. Record only goes back to 2000 when data were first collected
  3. Still, shows how much the job market has improved
  4. At the height of the Great Recession, there were almost 7 unemployed individuals for every job opening – now it is 0.9
  5. However, remember this is based on a strict measure of unemployment – no job, want a job, and have looked for work in last month
  6. Still, a milestone

And I’m Mary Walden for the Economic Perspective, an NC State Extension program from the Department of Agricultural and Resource Economics.