Job Openings and Layoffs Normalize as Labor Demand Cools
Job openings reported today by the U.S. Bureau of Labor Statistics fell approximately 4% in March, following the trend seen in online job postings. Meanwhile, layoffs and discharges rose 16%, nearing pre-pandemic levels. Both shifts show that demand for labor is cooling overall.
Inflation Moderates Further, CPI Shows
Today’s CPI report shows that the strict monetary policy is working. The topline inflation rate slowed down to 5.0% over the year, and 4.0% on a 3-month annualized basis. This was the smallest 12-month increase since the period ending May 2021, while the super core services inflation that sets the tone for the Fed decelerated slightly in March.
Labor Market Is Softening Further, Giving Comfort to the Fed
The latest jobs report released today shows that the labor market continues to soften. That should reduce inflationary pressures in the coming months and give the Federal Reserve greater confidence regarding the inflation outlook.
Job Openings Ease But Hit New Record in Arts, Entertainment, and Recreation
Job openings reported by the U.S. Bureau of Labor Statistics were revised downwards for January and fell further in February, following the trend seen in online job postings.
ZipRecruiter Annual Graduate Survey 2023
The Covid pandemic hit during their Freshman year, upending everything from classes and college housing to sports and campus jobs. Now—having endured setbacks, adapted, and persevered—the Class of 2023 is about to graduate and enter the workforce.
Inflation Comes in Hot, Putting the Fed in a Tough Spot
Despite overall inflation decelerating over the month, both core inflation and super core inflation—core services excluding shelter—accelerated in February. Today’s CPI report indicates that the inflation rate may take longer to reach the 2% target than markets were anticipating.
The February Jobs Report Is the Best of All Worlds
Today’s Jobs Report is the best of all worlds: slower but still very robust job growth paired with substantially lower wage growth.
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.
ZipRecruiter Annual Graduate Report 2022
ZipRecruiter’s inaugural report, “The Class of 2022: The Job Market Outlook for Grads” reveals that today’s graduates are entering a very different job market. There are lots of rewarding opportunities open to them, and employers are rolling out the red carpet to attract them. However, it’s not all roses—in-person internships are scarce and more competitive than ever. And inflation is packing a punch.
This is What Job Seeker Bargaining Power Looks Like
Instead of asking workers to leave, employers are increasingly begging them to stay.