Bill Witte discusses the shift that occurred in 2014 that led to more job openings than hires and what that says about where we are today.
This Q&A response from the FTR Experts came from our May Economic Outlook. View the video and the key takeaways below.
Key Takeaways:
- Firms have reopened from shutdown and realized they require more workers, but workers are not applying or they're applying but not showing up for interviews.
- Some may be waiting for unemployment benefits to end or return to pre-pandemic levels, essentially taking a summer off. However, this is likely only one smaller cause for the disproportion seen recently.