November Job Openings Slip, Retirements Hit Lowest Level
The November Job Openings and Labor Turnover Survey (JOLTS) report shows that job openings fell once again in November to 7.1 million. Compared to last November, the US labor market now has over 800,000 fewer job openings, with over 700,000 more unemployed individuals. It appears the bump in October job openings was more of a blip with data collection than a pivot in market direction. For now, the labor market shows more signs of softening than of recovery.
October Job Openings Rise, Hinting at a Labor Market Rebound
Since the last official release of the Job Openings and Labor Turnover Survey (JOLTS) report in August, the October JOLTS report suggests the labor market might be starting to turn around. Job openings were up 6.1% in October, from August, and up 8% from a year ago. This marks the first significant annual growth in job openings since July 2022.
August Job Openings Show a Mismatched Market
The August JOLTS report reveals the labor market freeze may soon start to thaw.
Uneventful JOLTS Report Predates Federal Government Hiring Freeze and Layoffs
The January Job Openings and Labor Turnover Survey (JOLTS) report was largely uneventful, painting a picture of a labor market that remains steady, at least for now.
February Jobs Report: Solid, but Showing Signs of Softening
The February jobs report was a bit of a snoozer—solid, but not much drama.
Eggs, Cars, Energy, and Insurance Drive Inflation Higher in January
Inflation started 2025 on an uncomfortable note, with core CPI rising 0.45% month-over-month, its hottest reading since April 2023. Year-over-year, core CPI is up 3.3%, marking a slight acceleration from prior months.
January Jobs Report: A Tighter Labor Market, but Growth Remains Uneven
The U.S. labor market tightened unexpectedly in January, defying expectations of stabilization. Employers added 143,000 jobs, enough to push the unemployment rate down to 4.0%, even as labor force participation edged up.
Labor Market Stalls as Job Openings Retreat
The labor market showed little movement in December, according to the latest JOLTS report, as an uptick in job openings the prior month proved short-lived. Openings fell back to their November level, reinforcing the broader cooling trend that has characterized the past year.
Jobs Report: The Labor Market Closed Out 2024 Better than Expected
The U.S. labor market ended 2024 with a surprising burst of strength, capping a sluggish two-year stretch with its best performance since the first quarter.
CPI Report: Fed Increasingly Finds Itself in a Tough Spot
For several months earlier in the year, inflation was coming in better than expected. But that is no longer the case. Inflation has recently firmed and become uncomfortably sticky, even as the labor market has continued to cool and slacken.
The December Jobs Report: Payroll Gains Aren’t What They Seem
Don’t be misled by the seemingly solid payroll gain of 227,000. Today’s Jobs Report offers little evidence of a labor market rebound.
A Mixed October JOLTS Report Points to a Stable Labor Market
The labor market is steady, according to today’s JOLTS Report, but substantially weaker than it was a year ago.
Weak Jobs Report Reflects Storms, Strikes, and the Ongoing Labor Market Slowdown
Today’s weaker-than-expected jobs report not only reflected the effects of storms and strikes, but also of the continued labor market cooldown which has taken place since the Fed began raising interest rates more than two years ago.
September JOLTS Report Suggests Continued Labor Market Cooling
Hires ticked up, according to today’s JOLTS Report, but the slide in job openings and quits, paired with the spike in layoffs, signal a labor market which likely continued to soften, despite the stronger-than-expected headline numbers in the September Jobs Report.
CPI Report: Positive Real Wage Gains Reduce Chance of Downturn
CPI Inflation declined to 2.5% over the year, the lowest level since February 2021, after the index increased 0.2% month-on-month. Meanwhile, average hourly earnings rose at a significantly faster clip of 3.8%, putting real wage growth over the year at 1.3%.
August Jobs Report Leaves the Overall Picture Little Changed
The U.S. economy added 142K jobs in August, but totals for the prior two months were revised downwards by a combined 86K, leaving the overall picture much the same. The labor market has slowed and slackened over the past three months, with job growth in the private sector outside of healthcare and social assistance falling to an unusually slow pace.
JOLTS Report: Labor Market Cooled Substantially in July
Just as the weak July Jobs Report alarmed observers and sparked a market selloff last month, the July JOLTS Report released today too shows a sharp deterioration in labor market conditions.