In July, the U.S. economy had a record 11.1 million job openings that employers couldn’t fill. As of October, that number remains essentially unchanged — at 11.0 million job openings, YahooFinance.com reported. Data from the Bureau of Labor Statistics released Wednesday confirmed the persistence of hiring difficulty for America’s employers. From restaurants to retail, industries across the economy continue to operate with fewer workers than pre-pandemic levels. Although the availability of jobs is leading to greater bargaining power for job-seekers, economists worry that an inability to staff up firms could drag on economic growth. The Federal Reserve, the nation’s central bank, noted anecdotes of firms having to actively turn down business or close because of a lack of staff. The Fed’s Beige Book (covering the month of November) detailed school closures in the Pacific Northwest due to a lack of teachers and a pullback in operating hours at restaurants in New England. In the St. Louis region, recruiters at a transportation job fair outnumbered the number of job-seekers that showed up.
