At the beginning of 2019 the Bureau of Labor Statistics reported a jump to 7.6 million of job vacancies in America. Adding 304,000 new jobs in January was actually “almost double the 158,000 the market had forecast.” There have been other organizations noting a jump in employment opportunities throughout the nation as well, in particular the Job Openings and Labor Turnover Survey (JOLTS). While this is really great news, there is of course the concern that this may open the door a bit too wide for those in current stable positions to seek better opportunities that could upset the apple cart, stressing out SME owners. There has also been a substantial decline in job layoffs.
“The importance of this strength in jobs and wages is that it has driven much of the resurgence in the American economy. Jobs and wages are the cornerstone of consumer spending — the key driver of U.S. economic growth.”
Unemployment dropped to 3.8 percent in February (from 4 percent).