Posted on 10/04/2022 11:14:36 AM PDT by Red Badger
Oct. 4 (UPI) -- Job openings in the U.S. plunged in August to their lowest levels since 2020, as the Federal Reserve continues to seek to lower demand for workers.
Available positions dropped from 11.17 million in July to 10.05 million in August, according to the Bureau of Labor Statistics.
The decline in openings was the biggest since April 2020, according to Bloomberg.
The Federal Reserve has tried to walk a tightrope by decreasing job vacancies to cool the labor market without an ensuing jump in unemployment.
The largest decreases in job openings were in health care and social assistance, other services and retail trade.
Nearly 4.2 million Americans quit their jobs in August, which is an increase from July. The number of voluntary job leavers was steady at 2.7%.
"The ratio of job vacancies to unemployed persons fell sharply in August -- such a large drop usually implies a recession," Eliza Winger, an economist told Bloomberg. "If this pace of decline continues, the labor market will be in a much cooler state by early next year, giving the Fed space to end its current tightening cycle."
A United Nations report published on Monday criticized the Federal Reserve's policy of raising interest rates to cool inflation.
"The world is headed towards a global recession and prolonged stagnation unless we quickly change the current policy course of monetary and fiscal tightening in advanced economies," the report said.
Impossible. Biden said this is the best economy ever.
Companies are clearing payroll in advance of the comings recession/depression.
Biden is bad for Blacks.
It’s all good.
Everything is doing awesomely well.
You have not had this good since my love mate ObamaIdiot was in office.
Move along.
Everyone is tightening their belts and rightfully so.
Has anybody looked at their 401k lately? If not, you might not want to look if you have a weak heart.
Yep, layoffs next. But I don't know how many people will lose their jobs, nobody seems to me working.
High inflation + High unemployment = Stagflation.
People preparing to retire with a million have lost $150,000ish, that right there is alot of annual income over say 20 years, close to 20k a year of lost income.
This is FED your pilot. We are coming in for a soft landing so we ask you to do the following:
Passengers should place their feet and knees together
with their feet firmly on the floor (either flat or on
the balls of their feet) and tucked behind the knees to
prevent shins and legs from being broken against the
base of the seat in front.They should bend as far
forward as possible, resting their head against the seat
in front if it is within reach and place their hands on
the back of their head, with the hands one on top of
another (rather than interlocked). Their elbows should
then be brought in. This prevents both flailing of the
arms in the crash sequence and protects the head from
flying debris. The head should be as far below the top
of the seats as possible to prevent injury from any
collapsing overhead compartments.
Thank you for flying with us.
Sorry, close to 10k/yr
High inflation + High unemployment = HIGH CRIME RATE.........................
If you did not sell, you did not lose $150 k
The portfolio should be held for the long term. If you panicked and sold, you are betting against America
True, but you can't move to a SPIA or something with that bucket, so you end up working longer, unless you moved 1/3 of your portfolio to fixed when Biden was elected. Pat on the back.
+1
> High inflation + High unemployment = HIGH CRIME RATE <
Inflation has hit groceries especially hard. I’m surprised we’re not seeing more stories of people loading up their carts, and just walking out of the store.
40 years of saving into my 401k and I've never had a year like this (in terms of percentage lost). Not even in the 2008-2009 period. This is because EVERYTHING is going down, not just stocks, but bonds, gold, silver, real estate, etc. Even if one puts everything in cash, the 10% inflation rate will eat away at that.
Don't shed any tears for me however. I can always decide to work a few more years if I need to. I feel bad for those who can't put off retirement due to health reasons and need to retire now. This is probably the worst time to decide to retire in about 100 years.
Stolen elections have consequences.
Nobody seems to be looking g for work anyway.
Dow is up...
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