REUTERS/Mike Segar/File Photo Mike Segar/Reuters/FILE “So I think that having layoffs stay about the same is a really good sign for workers in general.”įILE PHOTO: Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. “The big fear here is that we decrease openings and that we increase layoffs at the same time, and that would mean that a lot of folks are out of work,” Layla O’Kane, research director and senior economist for labor market research firm Lightcast, told CNN. The number of new hires ticked up to 5.86 million from 5.82 million in July, the number of workers quitting their jobs increased to 3.64 million from 3.62 million and layoffs held steady at 1.68 million. Other key measurements of labor movement tracked as part of the JOLTS report showed minimal movement. The longer-term trend is a gradual return to pre-pandemic levels.” “So, we shouldn’t read too much into one month either way. “That series is very zigzaggy because it’s based on such a small sample, there’s quite a lot of statistical noise,” she said. Year to date, openings are averaging 9.74 million per month, BLS data shows.Īdditionally, data from online employment sites show that job postings have already fallen to, and in some cases below, pre-pandemic levels, Julia Pollak, chief economist of ZipRecruiter, told CNN. While August’s uptick in openings bucks a three-month decline, the number of available jobs as estimated by JOLTS remains considerably lower than the record high of 12.03 million set in the spring of 2022. The US economy continued to add jobs at a robust pace last month Photographer: Al Drago/Bloomberg via Getty Images Bloomberg/Bloomberg/Getty Images/FILE Surveys suggest that despite cooling inflation and jobs gains, Americans remain deeply skeptical of the president's handling of the post-pandemic economy. A help wanted sign on a storefront in Ocean City, New Jersey, US, on Friday, Aug.
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