Job openings drop sharply in November

[Zippyjuan]

https://www.marketwatch.com/story/jo...ber-2020-01-17

The numbers: The number of open jobs fell to 6.8 million in December from 7.36 million in the prior month, the Labor Department said Friday. That’s a 21-month low.

The share of people who left jobs on their own, known as the quits rate, held steady at 2.3 in November. Economists watch the number of quits as a barometer of how confident Americans are that they’ll be able to find another job.

What happened: The largest declines in job openings were in retail trade and construction. In November, 3.54 million Americans left their jobs, up from 3.5 million in the prior month.

Big picture: Job openings have been trending lower in recent months. At the same time, nonfarm payroll growth has remained strong, and the jobless rate has dropped near historical lows.

The quits rate has been disappointingly low as businesses are not offering attractive wages to lure employees to quit their jobs, analysts said.

What are they saying? “For job seekers, things are still good — but don’t expect things to get better. If you are in the position to take advantage, do it now and don’t let this opportunity pass you by,” said Nick Bunker, an economist at Indeed Hiring Lab.

[Swordsmyth]

Old news.

Said the Bureau of Labor Statistics on Friday, “total nonfarm payroll employment rose by 145,000 in December, and the unemployment rate was unchanged at 3.5 percent.” It also noted that the long-term unemployment rate U6 (which includes discouraged workers no longer seeking jobs and part-time workers seeking full-time employment) dropped to the lowest level since the agency started reporting it in 1994.
This followed the report from ADP on Wednesday that the U.S. economy added 261,700 jobs in December and caps off a remarkable year for the U.S. economy.
For the year, new jobs rose by 2.1 million, following a gain of 2.7 million in 2018. Since Trump’s inauguration, the U.S. economy has added more than seven million new jobs. The robust economy has simultaneously reduced those on food stamps (SNAP) by four million while adding $5,000 a year to the average American’s household income.

More at: https://www.thenewamerican.com/econo...bor-department

[Zippyjuan]

Old news.

Said the Bureau of Labor Statistics on Friday, “total nonfarm payroll employment rose by 145,000 in December, and the unemployment rate was unchanged at 3.5 percent.” It also noted that the long-term unemployment rate U6 (which includes discouraged workers no longer seeking jobs and part-time workers seeking full-time employment) dropped to the lowest level since the agency started reporting it in 1994.
This followed the report from ADP on Wednesday that the U.S. economy added 261,700 jobs in December and caps off a remarkable year for the U.S. economy.
For the year, new jobs rose by 2.1 million, following a gain of 2.7 million in 2018. Since Trump’s inauguration, the U.S. economy has added more than seven million new jobs. The robust economy has simultaneously reduced those on food stamps (SNAP) by four million while adding $5,000 a year to the average American’s household income.

More at: https://www.thenewamerican.com/econo...bor-department

The headline was in error and I did not catch it. Figures were for December.

The numbers: The number of open jobs fell to 6.8 million in December from 7.36 million in the prior month, the Labor Department said Friday. That’s a 21-month low.

These are open, unfilled jobs- non-farm payroll is filled jobs- a different figure.

[Swordsmyth]

The headline was in error and I did not catch it. Figures were for December.



These are open, unfilled jobs- non-farm payroll is filled jobs- a different figure.

Stats fluctuate.
But the open jobs are still in good territory.

[Zippyjuan]

Stats fluctuate.
But the open jobs are still in good territory.

Yes, they do. And December usually has lots of openings for seasonal holiday help- those go away in January so the figure is likely to fall more.

What are they saying? “For job seekers, things are still good — but don’t expect things to get better. If you are in the position to take advantage, do it now and don’t let this opportunity pass you by,” said Nick Bunker, an economist at Indeed Hiring Lab.