The US labor market displays multiple indicators of slowdown, based on data from a recent report. Employment slows down while speeding up the shooting plans to the fastest pace since 2020, with the delay of the report of the non -salary statements due to September due to the closure of the government.
Also read: The demands of the unemployed work falls with the work market remaining fixed
The unemployment rate is still near the lowest historical level of 4.3 %, but the data from ADP showed that the private sector lost 32,000 jobs in September, which is very missing. A series of weak recruitment data on Thursday suggested that the labor market stumbles.
Job openings decrease
Revelio Labs’s workforce data shows that 17 million jobs are in September, a decrease of 17.2 % on an annual basis. Activating jobs modified were seasonal at the lowest level in at least three years.
A sharp decrease in job opportunities in the professional and commercial services industry, which decreased by 31.4 % on an annual basis. This was followed by the government sector and “other services”, with holes in both fields by 30.5 % on an annual basis.
The Revilio report said: “The increasing uncertainty leads companies and investors to delay new projects and slow employment, and reduce the demand for employment. Given forward, fewer publications indicate the growth of weaker jobs.”
Employment plans are slower since the great recession
According to data from Challenger, Gray & Christmas, employers have announced plans to employ 204,939 workers so far this year, a decrease of 58 % compared to the same period last year. This is the lowest number of planned appointments during the first nine months of the year since 2009.
The decrease is largely due to the subjugation seasonal employment. The company recorded 100,800 seasonal employment plan only last month, which is a small part of 401,850 of the planned seasonal appointments by October last year.
Source: Indexbox Market Intelligence
