The post Job openings nudged lower, down to 1.4 per available worker appeared on BitcoinEthereumNews.com.

Rail workers await the arrival of U.S. President Joe Biden to speak at the Baltimore and Potomac (B&P) Tunnel North Portal on January 30, 2023 in Baltimore, Maryland. The tunnel is 150 years old and is the biggest chokepoint in the rail system between New York City and Washington, DC and frequently causes delays of Amtrak, Maryland commuter trains and freight rail traffic. Biden is discussing how funding from the recently passed Infrastructure Investment and Jobs Act will aim to rebuild and replace the tunnel. Drew Angerer | Getty Images Demand for workers fell to its lowest level in more than 2½ years in November while hirings and layoffs both moved lower, the Labor Department reported Wednesday. The department’s Job Openings and Labor Turnover Survey showed employment listings nudged lower to 8.79 million, about in line with the Dow Jones estimate for 8.8 million and the lowest since March 2021. Openings fell by 62,000, though the rate of vacancies as a measure of employment was unchanged at 5.3%. In addition to the modest move lower in openings, hiring fell by 363,000, moving the rate down to 3.5%, a 0.2 percentage point decline. Layoffs declined by 116,000, with the rate holding steady at 1%. A report last month from the Labor Department showed a net increase in nonfarm payrolls of 199,000 in November. A report Friday is expected to show growth of 170,000. The ratio of job openings to available workers fell to 1.4 to 1, still elevated but down sharply from the 2 to 1 level that had been prevalent in 2022. Companies had faced a severe supply-demand mismatch in the period after the Covid pandemic began, a situation that has made gradual progress back to a more normalized state. Job openings fell by 128,000 for transportation, warehousing and utilities…

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Filed under: News - @ January 3, 2024 4:24 pm