Economic Indicators

US job openings fall moderately in November

2024.01.03 10:47


© Reuters. FILE PHOTO: An employee hiring sign with a QR code is seen in a window of a business in Arlington, Virginia, U.S., April 7, 2023. REUTERS/Elizabeth Frantz/File Photo

WASHINGTON (Reuters) – U.S. job openings fell for the third straight month in November as labor market conditions gradually ease.

Job openings, a measure of labor demand, dropped 62,000 to 8.790 million on the last day of November, the Labor Department said in its monthly Job Openings and Labor Turnover Survey, or JOLTS report, on Wednesday.

Data for October was revised slightly higher to show 8.852 million job openings instead of the previously reported 8.733 million. Economists polled by Reuters had forecast 8.850 million job openings in November. Job openings are down from a record high of 12.0 million in March 2022.

The labor market is steadily cooling following 525 basis points worth of interest rate hikes from the Federal Reserve since March 2022. The unemployment rate has, however, remained below 4% as companies hoard workers following difficulties finding labor in the aftermath of the COVID-19 pandemic.

The U.S. central bank last month held its policy rate steady at the current 5.25-5.50% range and policymakers signaled in new economic projections that the historic monetary policy tightening engineered over the last two years is at an end and lower borrowing costs are coming in 2024.

The labor market’s resilience has kept a recession at bay. The government is expected to report on Friday that nonfarm payrolls increased by 168,000 jobs in December, according to a Reuters survey of economists, after rising 199,000 in November.

December’s anticipated job count would be below the average monthly gain of 240,000 over the prior 12 months, but well above the roughly 100,000 needed per month to keep up with growth in the working age population. The unemployment rate is forecast edging up to 3.8% from 3.7% in November.

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 83,290.32 0.87%
ethereum
Ethereum (ETH) $ 1,895.32 1.76%
tether
Tether (USDT) $ 1.00 0.00%
xrp
XRP (XRP) $ 2.34 2.74%
bnb
BNB (BNB) $ 597.84 0.09%
solana
Solana (SOL) $ 132.29 0.48%
usd-coin
USDC (USDC) $ 1.00 0.00%
cardano
Cardano (ADA) $ 0.719877 2.80%
dogecoin
Dogecoin (DOGE) $ 0.170385 2.25%
tron
TRON (TRX) $ 0.215352 3.54%
staked-ether
Lido Staked Ether (STETH) $ 1,894.09 1.72%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 83,321.32 0.58%
pi-network
Pi Network (PI) $ 1.46 0.17%
leo-token
LEO Token (LEO) $ 9.71 1.71%
chainlink
Chainlink (LINK) $ 13.78 1.18%
the-open-network
Toncoin (TON) $ 3.40 15.79%
usds
USDS (USDS) $ 1.00 0.00%
stellar
Stellar (XLM) $ 0.268604 1.74%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,277.85 1.25%
hedera-hashgraph
Hedera (HBAR) $ 0.189141 2.10%
avalanche-2
Avalanche (AVAX) $ 18.71 1.14%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 0.48%
sui
Sui (SUI) $ 2.28 1.55%
litecoin
Litecoin (LTC) $ 90.19 3.36%
bitcoin-cash
Bitcoin Cash (BCH) $ 329.89 4.08%
mantra-dao
MANTRA (OM) $ 6.58 0.94%
polkadot
Polkadot (DOT) $ 4.24 2.07%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.07%
weth
WETH (WETH) $ 1,893.35 1.78%
bitget-token
Bitget Token (BGB) $ 4.37 1.17%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.05%
hyperliquid
Hyperliquid (HYPE) $ 13.43 5.97%
whitebit
WhiteBIT Coin (WBT) $ 28.79 1.24%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,012.69 1.77%
monero
Monero (XMR) $ 211.46 0.62%
uniswap
Uniswap (UNI) $ 6.12 0.32%
susds
sUSDS (SUSDS) $ 1.04 0.01%
dai
Dai (DAI) $ 1.00 0.03%
aptos
Aptos (APT) $ 5.24 1.42%
near
NEAR Protocol (NEAR) $ 2.59 1.02%
pepe
Pepe (PEPE) $ 0.000007 2.50%
okb
OKB (OKB) $ 45.97 0.30%
internet-computer
Internet Computer (ICP) $ 5.68 0.19%
mantle
Mantle (MNT) $ 0.80143 7.64%
ondo-finance
Ondo (ONDO) $ 0.843897 2.73%
ethereum-classic
Ethereum Classic (ETC) $ 17.55 2.31%
gatechain-token
Gate (GT) $ 21.43 0.73%
aave
Aave (AAVE) $ 169.08 2.87%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 83,408.35 0.61%
tokenize-xchange
Tokenize Xchange (TKX) $ 29.84 3.51%