One of my favorite weekly reads is from Brian Wesbury at First Trust Portfolios and he shared these stats last week. “Recent figures from the Labor Department show US businesses had a total of 6.550 million job openings in March versus 6.585 million people who were unemployed. That’s a gap of only 35,000 workers. By contrast, this gap never fell below 2 million in the previous economic expansion that ended in 2007.”
He went on to predict that our unemployment rate could drop to 3.7% by end of the year, the lowest rate since 1969 and that our unemployment rate could drop to 3.2% nationally next year, which would be the lowest rate since 1953.