Why Job Openings Hit 7.6 Million and Wages Are Still Stuck

In this episode of The Labor Market Podcast, Lucas and Luna dive into the surprising April 2026 JOLTS report showing 7.6 million job openings—the highest in nearly two years. They explore why this surge coexists with flat unemployment and modest wage growth, focusing on the energy-cost squeeze from the Iran conflict and proposed new tariffs. Using ADP's May payroll number of 122,000 and the latest average hourly earnings data at $37.40, they examine how geopolitical shocks and trade policy are reshaping hiring dynamics. The hosts avoid repeating past angles—no wage-productivity gap, no gig economy, no quits—and instead zero in on the structural mismatch between open roles and available talent. They also connect this to the broader question of whether the labor market is tighter or looser than it appears. Data-driven and conversational, this episode offers a clear-eyed take on a complex jobs picture. #JobOpenings #WageStagnation #EmploymentCostIndex #ADPPayrolls #JOLTSReport #LaborMarket #UnemploymentRate #AverageHourlyEarnings #InflationImpact #Tariffs #IranConflict #EnergyCosts #HiringTrends #EconomicData #Economics #FexingoBusiness #BusinessPodcast #LaborMarketPodcast Keep every episode free: buymeacoffee.com/fexingo