“November Job Openings Slide Down to 1.4 Per Worker– Don’t Miss Out!

Job Openings Nudged Lower in November, Down to 1.4 per Available Worker The latest government data reveals November job openings in the US nudged slightly lower compared to October. While the overall number of job openings continues to remain at historically high levels, the number of available workers per opening is now down to 1.4. The good news is the latest decline in job openings is largely due to seasonal factors, like lower job postings for temporary work due to the holiday season. However, the decline could also point to slowing economic momentum and inching the US closer to full employment. The labor market also showed signs of fatigue as more workers failed to receive new job offers in November. The number of announced layoffs rose to just over 250,000 in November, surpassing October’s tally and nearly doubled the monthly average of 155,000 layoffs reported over the summer. These developments suggest businesses are becoming more cautious about hiring while households remain under pressure from the uneven recovery. With a decreasing number of jobs relative to workers, businesses may find it harder to fill openings as the recovery progresses and newly hired workers become hard to come by. Other labor market indicators also point to an increasingly tight labor market. The number of long-term unemployed workers was little changed in November compared to October, suggesting the ranks of the unemployed have stagnated, though there is some improvement when compared to the start of the year. It’s unclear how much longer the current combination of historically high job openings and a decreasing number of workers relative to openings can last. With the pace of economic activity expected to increase early next year, it’s possible that job offers will start outpace workers. On the other hand, the latest government data suggests employers may struggle to fill job openings even after months of robust labor market growth. Job Openings Nudged Lower in November, Down to 1.4 per Available Worker The latest government data reveals November job openings in the US nudged slightly lower compared to October. While the overall number of job openings continues to remain at historically high levels, the number of available workers per opening is now down to 1.4. The good news is the latest decline in job openings is largely due to seasonal factors, like lower job postings for temporary work due to the holiday season. However, the decline could also point to slowing economic momentum and inching the US closer to full employment. The labor market also showed signs of fatigue as more workers failed to receive new job offers in November. The number of announced layoffs rose to just over 250,000 in November, surpassing October’s tally and nearly doubled the monthly average of 155,000 layoffs reported over the summer. These developments suggest businesses are becoming more cautious about hiring while households remain under pressure from the uneven recovery. With a decreasing number of jobs relative to workers, businesses may find it harder to fill openings as the recovery progresses and newly hired workers become hard to come by. Other labor market indicators also point to an increasingly tight labor market. The number of long-term unemployed workers was little changed in November compared to October, suggesting the ranks of the unemployed have stagnated, though there is some improvement when compared to the start of the year. It’s unclear how much longer the current combination of historically high job openings and a decreasing number of workers relative to openings can last. With the pace of economic activity expected to increase early next year, it’s possible that job offers will start outpace workers. On the other hand, the latest government data suggests employers may struggle to fill job openings even after months of robust labor market growth.