In mid-2021, a strange thing happened in the US jobs market: the number of posted opening exceeded the number of unemployed workers, a condition not often seen.

The gap between the number of openings and workers hunting for jobs grew from there, with the ratio reaching about 2X, as widely reported in 2022, as seen in the graphic below:

Source: Wall Street Journal

This led to challenges for most companies in recruiting both white blue collar workers.

As also seen in the chart, while the gap is still there it has closed significantly of late. Indeed, we are likely seeing a "return to the mean," driven by what appears to be a slowing econmy.

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