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These 3 charts are the best news the labor market's seen in years

New information released Monday by the Bureau of Labor Statistics shows massive improvement as of May in one crucial labor market indicator — the total number of job openings. Openings skyrocketed this past spring, with April and May seeing a surge in overall employment:


In absolute terms, the largest number of openings is available in the somewhat amorphous industry the BLS describes as Professional and Business Services. That's everything from lawyers to temps to consultants.:


But a particularly sharp surge happened in the Accommodation and Food Services sector:

Food_service_openingsThis is also the sector that registered the highest vacancy rate at 4.9 percent. That's not a historical high or anything, but it's in the neighborhood. That means employers in the legendarily low-wage food service sector are either going to need to start raising wages soon, or else start taking risks on the long-term jobless or people who've left the labor force. An example of why a little complacency about inflation could be very much in the public interest.