The Shortage of Labor May Last for Years

In May, the unemployment rate fell to 5.8% as employers added 559,000 jobs. At the same time, the number of unfilled positions soared to 9.3 million, the highest they have been since the start of the century. Meanwhile, the number of job-seekers per job opening plunged to 1.1, from 5 in April of 2020. The sectors with the largest number of openings being healthcare, leisure and hospitality, and professional services. 

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