2nd Quarter Labor Market Roundup: Competition Heats Up
Now that we’re in the heat of summer, it’s time to reflect on the second quarter of 2019. As you probably haven’t forgotten, the first quarter kicked off especially strong. While the second quarter of the year resulted in a slightly more conservative labor market, it still showed steady growth. The unemployment rate remained fairly consistent throughout the quarter. In June, the unemployment rate was at 3.7 percent. Moreover, last month was officially the 105th consecutive month of job gains, a strong end to the second quarter.
The disparity between open jobs and people seeking work continued to hover around 1.63 million, which in April 2019, was the largest gap ever recorded. This demonstrates exactly how competitive the labor market currently is, with active candidates receiving multiple offers in only a matter of weeks.
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