Job openings increased in September, partially offsetting the sharp drop in August
Below, EPI senior economist Elise Gould offers her initial insights on today’s release of the Job Openings and Labor Turnover Survey (JOLTS) for September. Read the full Twitter thread here.
Hires decreased in September, with notable declines in manufacturing as well as public sector state and local employment.
Separations also edged down, primarily due to a drop in layoffs and discharges. Quits were little changed, falling mildly in September. pic.twitter.com/PdraWeN6J9
— Elise Gould (@eliselgould) November 1, 2022
While the quits rate held steady in September as the hires rate dropped slightly, hiring continues to outpace quits in every major sector as workers seek and find new jobs. pic.twitter.com/U0sEI6hayV
— Elise Gould (@eliselgould) November 1, 2022
“Recent data have been encouraging that a soft landing is possible,” writes @joshbivens_DC https://t.co/xBZjLo3M6Z. Policymakers need to pay attention to the substantial disinflation already in the pipeline that will allow inflation to normalize (even in a strong labor market).
— Elise Gould (@eliselgould) November 1, 2022
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