June #JOLTS: Slowing labor demand via reduced job openings & hirings
Job openings: 8.18mn (-46k): near post-Covid low
Hiring: 5.34mn (-314k): post-Covid low & 2017 levels
Quits: 3.28mn (-121k): post-Covid low & 2018 levels
Layoff: 1.42mn (-175k)
https://x.com/GregDaco/status/1818289282265813378
The labor market is in freefall:
1. Private sector job openings at 6 year low.
2. Hires plunge the most in over a year to lowest since April 2020
3. Quits tumble to lowest since covid crash.
https://x.com/zerohedge/status/1818299431835316369
...still a soft landing?
...the narrative stays until after the US election.
...when firms stop hiring, and people stop quitting, the economy is in a bad shape.
June #JOLTS: Slowing labor demand via reduced job openings &...
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