Weakness in the Job Market
Job openings reached their lowest level in 10 months during July, as a pullback in hiring continued. Postings dropped to 7.18 M from a revised 7.36M in June, the Bureau of Labor Statistics said Wednesday. The ratio of vacancies to unemployed workers hovered at 1, the lowest since 2021, while layoffs increased to their highest level in a year. The data from the bureau follows its sharp revision lower of new nonfarm payrolls in recent months — and precedes an employment report for August on Friday.
Source: LinkedIn News
Point to ponder - how many openings that were published in July were remnants of prior months - making the issue more troubling...
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