Job Openings Spike in WTF Style Amid “Labor Shortages” While 15 Million People Claim Unemployment Benefits

by Wolf Richter
Wolf Street

This messed-up labor market is finally producing rising wages. But companies are able to pass them on with higher prices: the beginnings of an inflation spiral.

This is just nuts: 15.4 million people are still claiming unemployment benefits under all programs, with many receiving the extra $300 a week in federal top-off benefits, according to the Department of Labor. And 9.3 million people are still considered “unemployed,” according to the Bureau of Labor Statistics.

Yet the number of job openings spiked into the stratosphere as companies complain about “labor shortages,” though there is no shortage of people who could work.

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