Decline in New Jobs Hints at Weakness in Otherwise Healthy Market
WASHINGTON — Businesses across the U.S. cut back in the number of new job openings they advertised in December, the Labor Department reported Tuesday.
The pullback, following a similar decline in November is seen by some economists as a sign that the hot job market may be cooling.
The department reported the number of available positions dropped 5.4% to 6.4 million, the lowest number of job openings in the past two years.
While the number of open jobs still surpasses the number of people who consider themselves unemployed, it represents a decline of 1 million available jobs in the past year.
The decline comes after job openings had hit the highest level on records dating back to December 2000.
Aside from the job openings, other measures of the labor market remain strong. The unemployment rate is 3.6%, near a half-century low, and employers added 225,000 jobs last month, a solid increase.
In The News
WASHINGTON - As part of the 10th Annual NewDEAL Leaders Conference held this week, the NewDEAL Forum, a Washington, D.C.-based non-profit organization, released a new education report detailing policy solutions for providing high quality college and career pathways for students of all education levels. The NewDEAL... Read More
WASHINGTON (AP) — America’s employers scaled back their hiring last month as the viral pandemic accelerated across the country, adding 245,000 jobs, the fewest since April and the fifth straight monthly slowdown. At the same time, the unemployment rate to a still-high 6.7%, from 6.9% in... Read More
WASHINGTON - Thousands of federal employees can proceed with a class act in which they claim they were forced to work without pay during the 35-day partial government shutdown that extended from late 2018 to early 2019. “The claims brought by plaintiffs in this case are... Read More
WASHINGTON — Should a federal law that protects National Guard members and reservists from being fired from their private sector jobs while they are deployed also apply to state government jobs? Last week, the U.S. Supreme Court hinted it might weigh in on the issue. The U.S. Supreme Court last Tuesday requested... Read More
Ørsted, the Danish renewable energy group, and the North America's Building Trades Unions have entered into a pact to train an offshore wind construction workforce as the firm eyes construction of a series of wind farm projects up and down the East Coast. The deal comes... Read More
WASHINGTON -- Federal agency executives and senators at a Capitol Hill hearing Wednesday showed strong support for continuing telework among government employees even after the COVID-19 pandemic subsides. They said telework is bringing down their costs and improving the quality of job applicants without reducing productivity.... Read More