Day: November 30, 2022

Labor Market Still Too Strong for the Fed

MarketWatch (11/30/22) Bartash, Jeffry Job openings declined to 10.3 million in October in another sign the U.S. labor market is cooling as the economy softens. Still, it doesn’t seem to be cooling as quickly as the U.S. Federal Reserve would like. Job listings are down from 10.7 million in September, according to the U.S. Department of Labor. Job postings have declined from a record 11.9

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Private Sector Employment Increased by 127,000 Jobs in November

ADP News Release (11/30/22) Private sector employment increased by 127,000 jobs in November and annual pay was up 7.6% year-to-year, according to the November ADP National Employment Report. “Turning points can be hard to capture in the labor market, but our data suggest that [U.S.] Federal Reserve tightening is having an impact on job creation and pay gains,” said Nela Richardson, chief economist, ADP. “In

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Job Openings at 10.3 Million in October

Staffing Industry Analysts (11/30/22) The number of US job openings fell 3.3% in October to 10.3 million, according to seasonally adjusted data released by the US Bureau of Labor Statistics. Year over year, job openings are down 6.9%. However, Reuters noted that job openings remained significantly high in October, which points to continued labor market resilience despite the Federal Reserve’s efforts to cool demand by aggressively raising

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