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progree

(12,097 posts)
1. AP: US job openings rise to 8 million as labor market remains sturdy
Tue Oct 1, 2024, 05:05 PM
Oct 2024

Here's something to read if the BLS's "changed little" this and "changed little" that becomes a bit exhausting after a while.

Most of the media reports are calling it good news (increased job openings means more job opportunities, which is good for workers. Although the low quits rate is seen as a negative)

https://www.msn.com/en-us/money/markets/us-job-openings-rise-to-8-million-as-labor-market-remains-sturdy/ar-AA1rwMSS

U.S. job openings rose unexpectedly in August as the American labor market continued to show resilience.

The Labor Department reported Tuesday that employers posted 8 million vacancies in August, up from 7.7 million in July. Economists had expected openings to be virtually unchanged. Openings were up in construction and in state and local government.

Layoffs fell in August. But the number of Americans quitting their jobs — a sign of confidence in their job prospects — slid to the lowest level since August 2020 when the economy was reeling from COVID-19 lockdowns.

Job openings have come down steadily since peaking at 12.2 million in March 2022, but they remain above where they stood before the coronavirus pandemic hit the American economy in early 2020. When the economy roared back with unexpected strength from COVID-19 lockdowns, companies scrambled to find enough workers to keep up with customer orders.

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