Job openings rose 1% in Sept to 6.4 million, according to #JOLTS.
This bump leaves us 9% down YoY w/ 1.95 unemployed Americans per job opening.
Open jobs have rebounded faster than after the GR, but have lost momentum in recent months.
Release: bls.gov/news.release/j…
1/
This bump leaves us 9% down YoY w/ 1.95 unemployed Americans per job opening.
Open jobs have rebounded faster than after the GR, but have lost momentum in recent months.
Release: bls.gov/news.release/j…
1/
The Jul surge in job openings in #JOLTS was unusually large. By contrast, @Glassdoor data has shown steadier progress since Jun.
Early data from @Glassdoor also anticipates continued progress in Oct.
2/
Early data from @Glassdoor also anticipates continued progress in Oct.
2/
Part of the reason for the Jul surge and subsequent softness is bc of the 2020 Census delays which have shifted temp Census worker job openings to Jul instead of Apr.
This month's report confirms that the temporary effect has now largely waned.
#JOLTS 3/
This month's report confirms that the temporary effect has now largely waned.
#JOLTS 3/
#JOLTS has been more optimistic than the CES from the #JobsReport. One possible reason comes from JOLTS experimental state estimates thru Jun which show job openings *growth* in the upper Mountain states. Seems implausible but hardly dispositive
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#JOLTS has been a bright spot in labor market data w/ job openings rebounding very quickly off crisis lows, indicating labor demand is higher than expected after a typical recession (see: GR)
Last few months have softened though—slightly concerning as we head into winter
5/5
Last few months have softened though—slightly concerning as we head into winter
5/5
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