In the JOLTS survey posted with data for February of 2023, it is reported that job openings were reported at below ten million for the first time in over 20 years. Available job postings totaled at 9.33 million in the February data. Prior to the newest release the job openings to available worked ratio was 2 to 1. As the economy is slowing it is projected that this number will continue to decrease because within sectors firms will likely have less job postings, and workers will be more likely to stay at current positions instead of searching for new job placements. This is especially interesting because unemployment has stayed steady around 3.6%. Overall, the JOLTS survey postings along with unemployment data will be a valuable resource for gauging economic health (especially in the United States) for the rest of 2023.
https://www.cnbc.com/2023/04/04/jolts-february-2023-.html
It will be interesting to see how the extremely low unemployment effects the economy as we continue to head towards a potential recession.
ReplyDeleteThis survey's data is super interesting--I wonder what percentage of these job postings are trying to hire workers who have the qualifications/experience or if they are more so entry-level jobs.
ReplyDeleteI wonder how accurate these numbers truly are. There is a big problem going on with company posting fake job listings.
ReplyDeleteI am curious to see how many more openings will occur with the economy starting to slow down and where unemployment rates may go.
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