he 10.4 million job openings across America are well above the number of unemployed looking for work, creating even more pressure on an economy already struggling with inflation and supply chain shortages.
The Labor Department report Friday only added to the worries of stagflation that a growing number of economists fear is on the horizon. Former Clinton-era Treasury Secretary Larry Summers says he’s concerned that central banks like the Federal Reserve also may find itself without the tools necessary to revive the economy.
“Global financial markets appear to be anticipating slow growth and low real interest rates for the next few years, which will gut the ability of central banks to guide economies.
The Labor Department identified the sectors of the U.S. economy most in need of workers.