Don’t Quit Your Job. 2024’s Labor Market Is Going to Look Much Different From Last Year’s.

100% chance of a recession? Economic catastrophe that would end America’s strongest labor market in history? Not in 2023. Try 2024? Last year, the US added over 2.7M jobs — leaving the unemployment rate at 3.7% — just slightly above the 3.5% in Dec. 2022. Average hourly earnings rose 4.1% year-over-year (YoY), outpacing the Consumer…

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February JOLTS Report: The Jobs Market is (Finally) Cracking

The jobs market is falling apart. But you probably already knew that with all the layoff announcements. Now, data from job reports are finally catching up to reflect the slowing economy. We’ve got some spicy jobs data (as interesting as job reports can be). February JOLTS data showed: Job openings falling below 10M for the…

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State of the Jobs Market: Improving Labor Force + More Workers Go Part-Time

We’ve got two fresh trends in the jobs market for you today. And one builds on the argument for the four day work week… 1/ More workers are going part-time. 1.2M more Americans have been working part-time in the last two months, and 857K are doing it voluntarily. 16.3% of 160M working Americans are employed…

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Job switchers took home a fatter paycheck

Except today, loyalty is measured in dollars. And employees will gladly trade in their Beskar for a couple extra Imperial credits. In November 2022, US median hourly wages increased (compared to the previous year): 5.5% for those staying at their jobs. 8.1% for those changing jobs. But when you factor in November’s 7.1% inflation, it…

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U.S. job openings unexpectedly drop, sending markets higher. Here’s why.

Yesterday’s August JOLTS (Job Openings and Labor Turnover Survey) showed a massive decline in job openings. This sent markets ripping higher. Had to give that a second look? Yes, you read it correctly. Let us explain… First, here are the highlights from the jobs report: Available job positions fell to 10M — down 10% from…

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