Posted on 12/05/2023 1:46:40 PM PST by yesthatjallen
Job openings tumbled in October to their lowest in 2½ years, a sign the historically tight labor market could be loosening.
Employment openings totaled a seasonally adjusted 8.73 million for the month, a decline of 617,000, or 6.6%, the Labor Department reported Tuesday. The number was well below the 9.4 million estimate from Dow Jones and the lowest since March 2021.
The decline in vacancies brought the ratio of openings to available workers down to 1.3 to 1, a level that only a few months ago was around 2 to 1 and is nearly inline with the pre-pandemic level of 1.2 to 1.
Federal Reserve policymakers watch the report, known as the Job Openings and Labor Turnover Survey, closely for signs of labor slack. The Fed has boosted interest rates dramatically since March 2022 in an effort to slow the labor market and cool inflation, and is contemplating its next policy move.
While job openings fell dramatically, total hires only nudged lower while layoffs and separations were modestly higher.
SNIP
(Excerpt) Read more at cnbc.com ...
Dems hotline to China: Get that new replacement contagious virus over here——fast.
Must be blowback from the Trump term. No, really. 🤔😂
what is the labor participation rate?
Are we going to continue the years of “surprisingly low” job growth, like we had with Obama?
Amazing how it changed to historic highs when Pres Trump was in office
Ah, the usual “correction” to the “job numbers...”
LGB! Bidenomics! LYING S’sOS.
Say it real slow with me now: That’s Bidenomics!
How many ‘new workers’ are replacements for those who died from Covid-19, Remdesivir, and the vax?
I’m still waiting for my Obama shovel ready job
“what is the labor participation rate?”
Nobody wants to talk about that—or folks who have two or three gig jobs at a time.
Statistics without that type of context are noise not signal.
Total hires only nudged lower while layoffs and separations were modestly higher.
Looks like gearing up for illegal hires.
I believe the Labor Department about as much as I believe Biden, his FBI, his DOJ, Mayorkas, Austin, Milley and the rest of his administration.
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