U.S. businesses posted wanted ads for 6.9 million jobs in January, the U.S. Bureau of Labor Statistics reported Thursday. That was an increase from the upwardly revised 6.752 million for December and well-above the 6.585 forecast by economists surveyed by Econoday.
Restaurants, bars, and hotels led the way as the labor market weakened in November.
The latest sign that the economy was stronger than many thought in the months leading up to the 2020 election.
Hiring in manufacturing jumps to the highest level since 2001.
Job openings fell but the ratio of unemployed to openings remains at historically low levels, indicating labor market strength.
Another sign that the economy is finding a firmer footing as we move away from the summer of 2019’s imaginary recession.
Unemployment is at a 50 year lows so it is not surprising that a historic share of the workforce is voluntarily quitting their jobs.
Job openings and hires in the manufacturing sector remain elevated despite trade tensions. Factory layoffs remain very low.
The last time there were this many open manufacturing jobs was all the way back in 2001.
Factory jobs expanded to match the highest ever levels on record, defying predictions of tariff-induced manufacturing stress.
The most job openings ever. And for the fifth month in a row, more jobs than unemployed workers.
