Labor market shows cracks as December JOLTS signals softer openings

1 min read
Source: Axios
Labor market shows cracks as December JOLTS signals softer openings
Photo: Axios
TL;DR

December JOLTS data show job openings fell to 6.5 million and the openings rate to 3.9%, while hiring rose only modestly to 3.3%, signaling softer demand for workers. The downturn is echoed by rising unemployment claims and notable layoffs, though some indicators (like Bank of America data) suggest pockets of improvement, leaving the labor market in a fragile stabilization phase that could influence Fed decisions.

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