In case we needed more proof that the US labor market is in a historic supply-demand mismatch crisis sparked by Biden’s generous unemployment benefits, a few hours after the latest NFIB showed that it has never been more difficult for small business to fill job openings, moments ago the BLS confirmed what we expected: that the number of job openings in March (recall JOLTS is one month delayed) soared by a record 998K to 9.286MM in April from an upward revised 8.288MM in march, and the highest in the history of US jobs data!
