Job openings fell to its second lowest level of 2024 in December, at 7.6 million with -556K (vs 8m expected and 8.15m in November 2024)
This is a labor market that has gradually cooled and remains in a slow-to-hire, slow-to-fire equilibrium. This report will not change the Fed assessment about the labor market, but could give them more ease to continue in a easing bias.
- The 3-month moving average ticked up because Sept was even lower, at 7.4M
- The share of job vacancies for unemployed workers held steady at 1.1
Construction and manufacturing continue to lead job openings to the downside.
https://x.com/EPBResearch/status/1886800768969126093/photo/1
https://www.bls.gov/news.release/jolts.nr0.htm