As the US economy continues its longest expansion ever recorded, now into its eleventh year, the Bureau of Labor Statistics (BLS) last week reported that some 266,000 new jobs were added in January. In light of the good news all-around from the BLS January report with unemployment basically unchanged at 3.6%, Federal Reserve Chairman Jerome Powell testified to the House Financial Services Committee that the economy was “in a very good place, performing well.” Interestingly, some media reports seemed to spin the positive economic results as negatively as possible. This Reuters piece focused the reader on the second straight monthly drop in US job openings, down to 6.4 million, which is tagged as the lowest since December 2017. Buried deeper in the story, we learn that the ‘lower job openings’ (or number of vacancies, if you prefer) “continued to outpace the number of unemployed Americans, which was 5.9 million in January.” So, we can expect the tight labor market to continue.