Job openings slide by more than half a million as the labor market tightens

  • 📰 CNBC
  • ⏱ Reading Time:
  • 46 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 72%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Despite the big drop, openings still outnumbers Americans considered undemployed by just under one million.

On an industry basis, the biggest drops in job openings came in retail, which decreased by 139,000, and construction, which was down 112,000.

"Common sense should tell you that indeed, after an eleven-year run of economic growth that many companies have hired all the help they need for now," Chris Rupkey, chief financial economist at MUFG Union Bank, said in a note. "Today's sharp reduction in jobs available may be telling us that the economy has finally reached full employment."

The quits rate, or the total employees who left voluntarily, rose for the month by 39,000, though the rate as a measure of workers stood unchanged at 2.3% from October. The quits rate is considered a strong gauge of worker mobility as it reflects confidence that employees can find other work. Separations also were little changed, with a drop of 4,000 keeping the rate at 3.7%. Layoffs and discharges fell 46,000 and the rate declined to 1.1%.. The JOLTS data has a one-month lag, so December's job openings are not available.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Still waiting for coffee at Starbucks

Good news, the job market is adjusting to companies needs. More training, better pay keep up the good work.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

8 books to read if you're looking for a job in software engineering - Business InsiderCoding knowledge is key for any software engineer and books like 'Clean Code' and 'Code Complete' can help you develop your skills.
Source: BusinessInsider - 🏆 729. / 51 Read more »