by 437,000 in September, and revisions to August data showed a smaller drop than first reported. Overall, it looks like American employers are still seeking more workers than they can find.
The tight labor market that has come to define the pandemic-era economy appeared to be loosening up this summer, with data suggesting that employers were cutting back on job openings. But that trend did not continue.Layoffs edged down, holding at the lowest level on record. Roughly 4.1 million workers quit their jobs in September. That's down from thewho did the same last November, but there is still more job-hopping than in any other period outside of the pandemic.
All of it suggests a labor market that is still quite hot. Employers have a huge appetite for more workers and aren't letting go of the employees they do have. The still-elevated level of quits mean workers are confident enough about better job prospects — and, likely, higher pay — to leave their current jobs.This is one of those moments when good news=bad news.
In the Fed's ideal scenario, employers' demand for workers slows, but companies, for the most part, hold on to staff they already have. That would translate into a sharp drop in job openings alongside a subdued level of layoffs. The opposite happened in September, according to the new data out Tuesday.even more aggressive
Just layoffs at Twitter Musk sucks
All I see everywhere is “we’re hiring” and people spending money left and right. Malls and restaurants packed.
That’s a Biden win!
How terrible!!! More jobs, fewer layoffs! Must be Biden's fault...so vote MAGOP for sure.
It wasn't 'recession chatter'. The US economy contracted two quarters in a row. That's the definition of a recession
...except at twitter