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The Labor Market Tightens After COVID
There's about 10 million job openings and the job openings per unemployed person. After COVID shock, there was a big percentage of the workforce that just essentially retired or isn't on the official hunt for full-time jobs. You can argue whether the actual unemployment rate is 3% and some change percent. But I think this is just a short-term gauge for we got some pain or some kind of contraction in the labor market first before they turn on the printers.