WASHINGTON, D.C. (NBC) – U.S. employers are looking to hire more people than there are people to hire.
According to the Labor Department, there are more than 1.6 million more jobs available than there are workers to fill those jobs.
That means there is a significant unmet demand for workers—a good sign of a strong labor market.
However, the picture isn’t all rosy. Hiring slowed in May, as employers are waiting to see how the ever-changing landscape surrounding President Trump’s trade policies may impact their businesses.
And Federal Reserve officials will also keep an eye on the “quits rate”—the percentage of Americans quitting their jobs confident they’ll get a better one.
If the quits rate number rises, that could indicate pressure on worker pay that could start to cause inflation.