For the eight years of the Obama-Biden administration, there wasn’t a single month when job openings exceeded the number of people unemployed. Zero.
In fact, when Obama and Biden left office in January 2017, there were 1.9 million more people unemployed than there were job openings. So there was an abundance of people looking for work, but too few jobs opportunities open to them.
A little more than a year later, in March 2018, that situation had reversed. Following Trump’s regulatory overhaul and passage of the Tax Cuts and Jobs Act, employment openings exceeded the number of people unemployed for the first time on records going back to 2000.
Astoundingly, that remained the case for 24 consecutive months — until the pandemic — with over 1 million more job openings than people unemployed for 17 of those months.
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