Unprecedented! 10.1 million openings
Jobs
22 million jobs lost from lockdowns; almost three quarters of these have been replaced
13 million Americans still receive some form of government unemployment as well as many other government incentives (free rent and utilities) that deincentivize employment and effectively compete with private business
3.9 million people quit their jobs in June (up from 3.6M m/m)
4.3% fewer hours worked by U.S. workers Q1 versus pre-lockdown, yet output only fell 0.5% near full recovery from pre-lockdown levels
4% wage growth year/year
Lockdown-induced recession became a catalyst for automation
Many companies expect to hire back reduced workforce
$32,000 those who made less than $32K before lockdowns now make more on unemployment based on average state benefit plus federal benefit
Inflation rises as employers seek to meet stimulus-fueled demand
