There are more job openings today than there are unemployed people, so how will employers fill those jobs?
"If you want to bring supply and demand closer together in the labor market, economic theory says once the jobs start to get tighter, employers need to start luring people with higher wages and higher income," says Brian Riedl, senior fellow at the Manhattan Institute.
"When that happens, not only will they will have better luck filling jobs," Riedl advises, "but that could help address the fact that we have about eight or 10 million working age males out of the labor force right now."
Riedl made his comments after The Associated Press and other media outlets announced historic job related-news: the number of job openings in the U.S. exceeds the number of unemployed workers, the first time on record.
Asked if tax cuts and the Jobs Act will help employers, the economic analyst says the tax cuts not only delivered a windfall to companies, allowing them to hire people, but those companies also got tax breaks for business investment.
"And the more businesses invest in their workers," he says, "the more productive the workers become, and that makes them more valuable and leads to their wages going up."