We Are Growing Jobs Faster Than Americans Can Fill Them [WATCH]

New labor data from the Bureau of Labor Statistics is drawing renewed attention after job openings surged by 400,000 last month, reaching nearly 7 million unfilled positions across the country.

Economist Peter St Onge addressed the figures, saying, “Job openings jumped 400,000 last month, which has annualized 5 million new jobs, yearning for a worker.” He added, “So much for the collapsing job market.”

The increase follows a prior BLS report showing a drop of 92,000 jobs, a contrast St Onge highlighted.

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“It’s odd,” he said, “since just last month, the BLS reported a catastrophic drop of 92,000 jobs.”

The data comes from the Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey, which tracks openings, hires, quits, and layoffs.

St Onge noted the broader context of the report, saying, “Last week, the notorious Bureau of Labor Statistics released their so called jolts numbers job openings and labor turnover.”

Hiring saw a modest increase, while layoffs declined.

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“Hires rose a smidge about 20,000,” St Onge said, adding that layoffs “actually fell according to the BLS, by 35,000.”

The report also showed an increase in the quit rate, a measure often tied to worker confidence.

St Onge explained, “The all important quit rate actually rose.”

He added, “This is good, because if more people quit their jobs, it means they think jobs are easy to find.”

Sector trends showed a divergence between types of work.

“Quit rates are highest in blue collar jobs like construction and trades,” St Onge said, adding that they are “worst in high pay white collar jobs.”

He said, “It’s helping blue collars, and it’s gutting the cubicle jobs.”

Breaking down the rise in openings, several industries saw notable gains.

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