Q3 2024 Job Openings and Hiring are still significantly weak, suggesting an ongoing decline in labor demand
Job Openings decline 467k in Q3 (445K in Q2 2024), meaning a -5.90% Q/Q.
- US Job openings fell to 7.44mln in Sep, the lowest level since January 2021, and below expectations of 7.98 million
Openings per unemployed person are still at a 1.1 ratio, below prepandemic levels.
Hiring rate and quits rate also continue to be weaker than 2019 levels.
The decline continues to be broad base.
Unsurprisingly, job openings is another government data indicator with constant revisions.
