Job openings fall to lowest point since 2021, but remain higher than pre-pandemic
Below, EPI senior economist Elise Gould offers her initial insights on today’s release of the Job Openings and Labor Turnover Survey (JOLTS) for July. Read the full thread here.
The mild drop in hiring puts the hires rate solidly in pre-pandemic territory. While quits edged down, the quits rate remains consistent with a tight labor market; less churn than in the height of the great reshuffling, but still a positive sign for workers. Layoffs remain low. pic.twitter.com/LvdZYhgfVz
— Elise Gould (@eliselgould) August 29, 2023
Even as hires have softened, hiring remains above the quits rate in every sector. The great reshuffling isn’t what it was two years ago, but it continues as workers look and find better job opportunities. pic.twitter.com/xW9o2JCznG
— Elise Gould (@eliselgould) August 29, 2023
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