January JOLTS Report Points to a Cooling Labor Market
Job openings reported by the U.S. Bureau of Labor Statistics were revised upwards for December and remained sky-high in January, even as survey data on business hiring plans and active online job postings pointed to declining demand for labor.
Inflation Remains Elevated, Signaling More Rate Hikes This Year
Today’s CPI report shows a 0.5% increase in the monthly inflation rate, which is slightly higher than economists were expecting. Going forward, inflation is unlikely to maintain its recent pace of deceleration.
Labor Productivity Improved for Two Consecutive Quarters
Nonfarm business sector labor productivity—measured as output produced per hour worked—increased 3% in the last quarter of 2022 as output increased by 3.5% and hours worked increased by 0.5%.
December JOLTS Report Underscores Remarkable Year for U.S. Labor Market
2022 stands out as a record-breaking year in the labor market, according to data released today by the U.S. Bureau of Labor Statistics in the latest Job Openings and Labor Turnover Survey (JOLTS) report for December.
Core Inflation Hits 15-Month Low, Even as Unemployment Falls
The Fed warned that unemployment would have to rise for inflation to come down, but the CPI declined outright in December even as unemployment fell to a 50-year low.
December Jobs Report Shows Solid Job Growth, Moderating Wage Growth
After months of reports that sent mixed signals, with the establishment survey showing rapid job growth and the household survey showing declines, the December Jobs Report finally has a resoundingly consistent message: the labor market was robust and resilient in 2022.
The November JOLTS Report Highlights the Enduring Strength of the Labor Market
Job openings were revised upwards from 10.3M to 10.5M in October and held steady in November—a testament to the resilience of demand for labor on Main Street, even as job openings tumbled on Wall Street.
Candidate Ghosting and Job Seeker Confidence
Candidate ghosting—that is, the practice of candidates cutting off communications with a potential employer at any stage in the recruiting process—peaked in May, according to self-reported behavior in the ZipRecruiter monthly Job Seeker Confidence survey.
This is What Job Seeker Bargaining Power Looks Like
Instead of asking workers to leave, employers are increasingly begging them to stay.