Job Openings Fall , as US Hiring Begins To Cool.
In October, employers in the United States
posted 8.7 million job openings,
the lowest number since March of 2021. .
In October, employers in the United States
posted 8.7 million job openings,
the lowest number since March of 2021. .
ABC reports that the lower numbers come as a
sign that hiring has cooled amid higher interest
rates, while remaining at a still-healthy pace.
On December 5, the Labor Department
released a report that openings were down
significantly from September's 9.4 million.
October also saw the number of layoffs
rise modestly, while the number of U.S.
workers quitting their jobs dropped slightly.
ABC reports that the lower number of job
openings in October had a large impact on
healthcare and social assistance, falling by 236,000. .
Higher interest rates have had a particularly hard
impact on finance, which includes banking, insurance
and real estate, where openings fell to 217,000. .
Meanwhile, openings in hotels,
restaurants and bars fell to 124,000.
Despite the steep decline in October, the
number of job openings remains historically
high, exceeding 8 million for 32 straight months.
ABC reports that U.S. employers have added 239,000
jobs a month in 2023, while the unemployment rate
has come in under 4% for 21 consecutive months.
While unemployment remains low, 1.93 million people in
the U.S. were collecting unemployment benefits in the
week ending November 18, the highest number in two years