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The 'new normal' may be here for the job market — and it could be painful for employers - Jacksonville Business Journal

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The 'new normal' for the job market could be a pain for employers

After another month marked by thousands of layoffs, continued recession fears and companies tightening their belts, job openings remained resilient.job openings actually increased from 10.44 million at the end of November to about 11 million

"The labor market is continuing to show its historic resiliency in the face of all the conjecture about a possible recession. 10 to 11 million job openings in the U.S. [have] become the new normal,” said Richard Wahlquist, president of the American Staffing Association. "Once again, there are nearly two job openings for every unemployed person."

The quit rate once again held steady at 2.7%, while layoff rates inched up to 1% from 0.9%, even after of thousands of layoffs in the technology and financial sectors. While there have been high-profile tech layoffs, other industries saw a huge surge in demand, including an increase of 409,000 job openings in food services and accommodations. The information sector did show a decline of 107,000 job openings, reflecting upheaval in the tech sector.

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