Job listings is a terrible metric because it has never been cheaper to have a listing. Listings are nearly double pre-pandemic norms while actual hires are only up slightly from pre-pandemic norms. This implies that each job listing is much less effective than it was. If companies would stop throwing away 90% of resumes because they didn't exactly match the keywords for the job, perhaps this would be better. The bottom line though, is we shouldn't factor listings into any metric in much the same way that me putting a $100 trillion price tag on an item doesn't increase inflation. Track actual transactions.