US job openings fall as demand for workers weakens

abcnews.go ^ | 09/04/2024 | CHRISTOPHER RUGABER AP economics writer

[ChicagoConservative27]

WASHINGTON -- America's employers posted fewer job openings in July than they had the previous month, a sign that hiring could further cool in the coming months.

The Labor Department reported Wednesday that there were 7.7 million open jobs in July, down from 7.9 million in June and the fewest since January 2021. Openings have fallen steadily this year, from nearly 8.8 million in January.

Layoffs rose from 1.56 million to 1.76 million, the most since March 2023, though that level of job cuts is roughly consistent with pre-pandemic levels, when the unemployment rate was historically low. Layoffs have been unusually low since the economy's rapid recovery from the pandemic recession, with many employers intent on holding onto their workers.

Overall, Wednesday's report painted a mixed picture of the job market. On the positive side, total hiring rose in July, to 5.5 million, after it had fallen to a four-year low of 5.2 million in June. And the number of people who quit their jobs ticked up slightly, to about 3.3 million. The number of quits is seen as a measure of the job market’s health: Workers typically quit when they already have a new job or when they're confident they can find one.

[ChicagoConservative27]

Cackleonmics!

[antidemoncrat]

Seems to me when the government revises previous month economic and jobs reports the “mistakes” always seem to favor their policies and make them look better.

[Leaning Right]

> America’s employers posted fewer job openings in July than they had the previous month… <

Conservative response: Reducing regulations and taxes would help.
Liberal response: Punish those employers!

[ClearCase_guy]

Perhaps some price controls will convince those companies to hire more people!

[frank ballenger]

Good ad has KaMala saying “We just love Bidenomics” (then laughs).

Wonder how this all works. 10-12 million illegal border crossers are ready to take jobs away and work cheaply.

If they aren’t trying for more employees now, that would imply bosses lack money to pay staff and have fewer customers now.

Macy’s and other retail chains closing places. (Some due to the internet, of course.)

And these restaurants announcing closing of locations around the US:

Applebee’s

Boston Market

TGI Fridays

Hardee’s

Burger King

Steak ‘n Shake

Denny’s

Pizza Hut

MOD Pizza

Outback Steakhouse

Red Lobster

Cracker Barrel Old Country Store

Express

Fuddruckers

Ruby Tuesday

Bottom line

Bravo/ Brio

Chili’s

Dunkin’ Donuts

IHOP

McDonald’s

PDQ

Sweet Tomatoes

Starbucks

[FlingWingFlyer]

Somebody running the border Welcome Wagons forgot to turn off the spigot. The slave laborers keep on coming.

[ComputerGuy]

I remember back when we used to make things. Now we sit at desks and make vaporware.

[DonaldC]

I remember those days as well.

[HIDEK6]

I don’t see any manufacturers on that list.

[Leaning Right]

> I remember back when we used to make things. <

You’ve hit upon a major point. When I graduated high school many years ago there were three huge steel mills near me. Plus many smaller mills (I worked in a small rolling mill for awhile). Plus there was the railroad. All were hiring, and at good wages.

Get a job. Put money down on a house and a car. Pursue the American dream.

All the mills are gone now. This will destroy the middle class, and cannot end well.

[Thorium90]

Honest money and free markets.

But it’s a curious thing that no one on the campaign trail even gives it lip service, not the least of which is libertarians.

For years all I heard what that they might not agree with what I say but they will defend to the death my right to say it!

Anyway, the answer to our economic and financial woes is honest money and free markets. Not painless, but the invisible hand works.

But now with all this censorship and mis(dis)information BS, none of them are anywhere to be found.

I guess what trey really wanted was freedom to smoke their weed. Not much else seems to matter.

[Freee-dame]

I read that Kamala is promising up to $50,000 tax credit for small businesses and new startups. Varney on FOXBusiness said that sounded like a positive thing. After four years of doing everything they could to destroy private sector small businesses in this country, it sounds more like vote buying to me.

The devil will be in the details. Will this money only go to woke companies? Green companies? DEI companies? Family members of members of Congress and the Biden administration?

[Leaning Right]

Free markets domestically, yes. But not a global free market. That would turn us into a pathetic economic colony.

It’s not 1945 anymore. Literally everything we could make here can be made cheaper somewhere else (you can’t compete with a Bangladeshi shirt factory that pays its workers $1 a day). But here’s the thing. There are American workers that need a good job. They are not doctors or rocket scientists. They need factory work.

There are no easy solutions. But reducing taxes and regulations would be an awesome start.

[woodbutcher1963]

LL Flooring (formerly Lumber Liquidators) announced they will shutting down the remainder of their locations.
At one point they had over 400 stores.

[Thorium90]

Point well taken.

And you’re right, that would be an awesome start.

[Thorium90]

“Will this money only go to woke companies? Green companies? DEI companies?”

Yeah, that would be my fear too.

I agree it would be a positive development. I am not anii corporation but I like amall businesses better and prefer mom-and-pop when available.

Also, the fact they are saying this means they know is resonates with people like us - and it does (not that it makes any difference!).