A NEW record for OPEN jobs

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A new record for open jobs.
Welcome to the Know the Difference Minute for Tuesday, May 3rd.
The Labor Department’s JOLTs report is out. That stands for Job Opening Labor Turnover Survey.
In March 6.7 million people took new jobs, down slightly from last month. On the quit side, we saw a new record at 4.5 million. For companies trying to staff up to meet needs, there are currently 11.5 million open jobs.
The increase in job openings was driven by retail trade and durable goods manufacturing. That backs up data we saw yesterday from the Institute for Supply Management. US factory activity grew at its slowest past in more than 18 months in part due to short staffing.
If someone really wants to work, they should have no problem finding something. Basically, there are 1.9 open jobs for every unemployed American.
I’m Dave Spano from Annex Wealth Management. That is your Know the Difference Minute.