There are lots of competing interests within the jobs market, with business owners, employees, and those searching for jobs all wanting different status quos. A person looking for employment wants very little competition so that it is easier to find a job, with the employer often wanting the exact opposite; a lot of competition, so that they can have the pick of the bunch. Meanwhile, the government is constantly pushing reductions in unemployment, while also trying to attract the best workers from around the world, and training people in professions here as well, which can complicate the subject considerably.

If you truly want a robust employment market, the answer, between a lot of competition and no competition, is that a middle ground is probably best for the overall health of the economy. Having competition in every facet of the economy is important, but having so much that wage levels stagnate isn’t good for anybody in the long run. Also, if every job is getting hundreds of applicants, then sorting out the good from the bad can be a time consuming activity for businesses to engage in. Meanwhile, having no competition doesn’t allow businesses to look for better employees, and can cause the economy as a whole to stagnate as well.