The labor market’s rebound from the pandemic has been nothing short of remarkable. Most of the staggering number of job losses have been recovered, and the unemployment rate is near its pre-pandemic low. But sometimes in economics there can be too much of a good thing. In this case, it’s the demand for ... READ MORE >
job openings
Robust job openings data might accelerate Fed’s rate hikes
U.S. job openings in February came in blazing hot again at 11.3 million, which translated to 1.8 jobs available per unemployed worker, the Bureau of Labor Statistics reported on Tuesday. The new data will add more pressure on the Federal Reserve to raise interest rates and cool the economy, and ... READ MORE >
Chart of the day: Job openings surpass 11 million in back-to-back months
The scramble by employers to find workers continued amid a historically tight labor market in January, as employers reported 11.3 million job openings for the month, according to government data released on Wednesday. That would have been the highest on record, except that December's figure was revised ... READ MORE >
Manufacturing slowed in January as labor market remained tight
Manufacturing slowed in January as demand moderated from a recent high in November, according to a report from the Institute for Supply Management on Tuesday. The top-line purchasing managers’ index fell to 57.6 on the month from 58.8 previously—the lowest since November 2020. Still, one should not ... READ MORE >
Labor market tightened in November despite decline in job openings
Demand for labor declined slightly in November while the rate of people quitting their jobs returned to an all-time high, according to data released by the Bureau of Labor Statistics on Tuesday. Despite the decrease of about 529,000 job openings—a proxy for labor demand—the total number of vacancies ... READ MORE >
Chart of the day: Job openings rise to second highest on record as quit rate slowed
The demand for labor stayed strong in October as concerns over the delta variant faded and the economy continued to bounce back from the pandemic. Job openings, a proxy for labor demand, reached 11.03 million, exceeding 11 million for the second time on record, slightly lower than the all-time high set ... READ MORE >
Job openings eased as quits hit a record
Demand for labor remained strong as job openings ebbed to 10.4 million in August following a record in July, which was revised upwardly to 11.1 million, according to Labor Department data released on Tuesday. Job hires declined in back-to-back months, to 6.3 million from the recent high of 6.8 million ... READ MORE >
CHART OF THE DAY: Job openings set another record at 10.9 million in July
Job openings in the United States reached a record 10.9 million in July, continuing to show that the demand for workers remains strong while employers struggle to fill job vacancies. New hires inched down to 6.7 million and job separations were little changed, at 5.8 million, according to Labor ... READ MORE >
CHART OF THE DAY: May was another good month for the labor market
The Job Openings and Labor Turnover Survey released by the Labor Department on Wednesday strongly suggests that American workers are enjoying a moment when work is plentiful and firms appear willing to meet demand for higher wages. Through May, there is roughly one unemployed person per job opening as ... READ MORE >
CHART OF THE DAY: U.S. job openings improve
Workers are growing more confident in their ability to find a job, according to the most recent Job Openings and Labor Turnover Survey, or JOLTS, from the Bureau of Labor Statistics. There were 5.1 million separations from employment on the back of 6.65 million job openings during October, according to ... READ MORE >