Labor Market Dynamics Retighten, Job Openings Jump Again. Fed Faces Scenario of Solid Job Market, Re-accelerating Inflation

October’s majestic jump in job openings was revised even higher, and in November, job openings jumped by another 259,000, to 8.10 million (blue in the chart below), the highest since May and well above the prepandemic record in late 2018, and the three-month average (red) rose for the second month in a row...