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U.S. job openings climb to 11 million at end of 2022, as the labor market is still too strong for the Fed

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U.S job openings climb to 11 million at end of 2022. Labor market too strong for Fed

The numbers: Job openings in the U.S. rose to a five-month high of 11 million in December, a sign the labor market was still extremely tight despite a slowing economy and more layoffs in some sectors such as high tech.The number of job openings is... The numbers: Job openings in the U.S. rose to a five-month high of 11 million in December, a sign the labor market was still extremely tight despite a slowing economy and more layoffs in some sectors such as high tech.

Key details: The biggest increase in demand for labor was at hotels and restaurants as they sought to keep up with the desire of Americans to dine out and travel. The so-called quits rate among private-sector workers dipped to 2.9% from 3%. It peaked at 3.4% near the end of 2021. Julia Pollak, chief economist at ZipRecruiter, contends the government report exaggerates the amount of demand for labor.

 

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OR THOSE JOBS WERE FOR CHRISTMAS AND EVERYTHING WILL GO BACK DOWN FOR JANUARY! 🤦🏼‍♀️🫣😉🤔

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