Job openings jumped and hiring slumped in October, key labor report for the Fed shows
Source: CNBC
Published Tue, Dec 3 2024 10:31 AM EST Updated 49 Min Ago
Available jobs rose in October while hiring fell during a month in which payrolls growth hit its lowest level in nearly four years, the Bureau of Labor Statistics reported Tuesday.
Job openings totaled 7.74 million on the month, up 372,000 from September and more than the Dow Jones estimate for 7.5 million, the BLS said in its Job Openings and Labor Turnover Survey. The rate of openings as a share of the labor force rose to 4.6% from 4.4%.
That brought the ratio of available positions to unemployed workers up to 1.1, about half of where it was during the peak of a massive gap between supply and demand in 2022.
Hiring also tailed off at a time when the labor market was disrupted by violent storms in the Southeast as well as two major labor strikes involving dockworkers and Boeing. Hires totaled 5.31 million, down 269,000 on the month, lowering the hiring rate to 3.3%. That’s also a decline of 0.2 percentage point.
Read more: https://www.cnbc.com/2024/12/03/job-openings-jumped-and-hiring-slumped-in-october-key-labor-report-for-the-fed-shows.html
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October job openings, hires, and total separations change little; quits increase https://bls.gov/news.release/jolts.nr0.htm
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10:02 AM · Dec 3, 2024
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Graph from: https://finance.yahoo.com/news/job-openings-rise-more-than-expected-in-october-152606472.html
"Job openings jumped". Yuh, breathtaking, I guess.
