Watching the JOLTS data this morning we at investorAi weren't all that surprised. The numbers fitted in with a lot of what we had been watching.
Job openings in the US decreased for the second consecutive month, reaching a three-year low and indicating further cooling in the labor market.
According to the Bureau of Labor Statistics’ latest Job Openings and Labor Turnover Survey (JOLTS) report released on Tuesday, there were 8.06 million available jobs posted in April, down from a revised 8.36 million in March and the lowest since February 2021. Economists had anticipated 8.36 million job openings, based on FactSet estimates. In April, there were an estimated 1.2 available jobs for every job seeker, the lowest ratio since June 2021, according to BLS data.
The job market has been robust over the past few years, supporting strong consumer spending and bolstering the economy despite high inflation and interest rates.
Despite the decline in job openings, ...
Sign up to read the entire article. It's Free and Simple to sign up!
We are offering a
FREE 30 day trial which includes full access to the following services here at investorAi.
You only need an email address to sign up! You will NOT be billed at the end of your trial unless you wish to begin a subscription.