Every month everyone focuses on the Jobs Report that tells us how many jobs were created or lost and where the unemployment rate stands for the previous month. Very few people pay any attention to the part of the report called Jobs Openings. That might be because it is a month behind.
For October it stood at 7.1 million. It hit 7.3 million in August falling a little in September. These are record numbers of jobs available. The government on Friday said that 6 million people who want jobs are out of work. That is a very good ratio, and believe me many times the ratio is the other way around.
Also, few people even know about the ‘quits rate’ which stand at 2.6%. This is the percentage of people who are quitting their jobs to find another. When it is high it strongly suggests a very healthy job market and this number is very high after peaking a little higher in the summer.
The U.S. economy is by almost all measures very healthy and the jobs number only confirms that conclusion.