Under President Donald Trump, the number of job openings reached a record high of 6.6 million, the highest since the Labor Department started tracking that figure in 2000.
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According to CNN Money, that roughly matched the number of unemployed workers in America. Despite that alignment in numbers, however, employers and employees face a mismatch in qualifications.
That seemed to be borne out by the fact that although the number of job openings increased in March, the number of new hires fell by 86,000.
Economists, however, have speculated that employers would raise wages in the current labor market, potentially bringing workers off the sidelines of the economy.
“We need more people to come off the sidelines, and more attractive wages should be an effective way of encouraging that,” Bleakley Advisory’s chief investment officer, Peter Boockvar, reportedly said.
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Last week, the Bureau of Labor Statistics nevertheless reported good news for the economy, as the United States economy added 164,000 jobs in April and unemployment dropped to its lowest level since 2000.Paolo Miggiano/Wikimedia Commons
The news came amid President Donald Trump’s push for deregulation and massive tax cuts for corporate America, something that drew furious opposition from Democrats.
When Trump tweeted about the unemployment news, he suggested the media focused too much on Congress’ and special counsel Robert Mueller’s investigation into Russian meddling:
JUST OUT: 3.9% Unemployment. 4% is Broken! In the meantime, WITCH HUNT!
— Donald J. Trump (@realDonaldTrump) May 4, 2018
Manufacturing also saw substantial gains under Trump’s administration. As Independent Journal Review previously reported, U.S. manufacturing expanded at its fastest rate in nearly 14 years.
In a statement, the National Association of Manufacturers appeared to credit Trump’s agenda for the growth.
“[T]he enactment of historic tax reform, significant regulatory relief,” chief economist Chad Moutray said, “and the overall shift to a more pro-business environment under the current political leadership in Congress and the White House is clearly resulting in tangible benefits for manufacturers and manufacturing workers.”