'A lot of jobs weren't great in 2019 either': Job hunters had one big advantage during the pandemic, says top Obama economist

Job openings in the U.S. outnumber people looking for work by 3 million, according to Bureau of Labor Statistics data.

Employers in the U.S. have 10.4 million job openings, a near record-high level, and the pool of unemployed workers looking for work hovers at 7.4 million people, according to Bureau of Labor Statistics data.

But that narrative doesn’t explain why labor shortages continue to persist in the U.S., according to Jason Furman, former chairman of the Council of Economic Advisors under the Obama administration. Also, when much of the economy was locked down to curb the spread of COVID-19, Americans had limited opportunities to spend money.But since March 2021, Americans have been dipping into their savings.

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