www.zerohedge.com By Tyler Durden
After nearly a full year of massive, consecutive monthly increases in job openings as employers scrambled to find qualified workers, today the BLS reported that in the past few months, the number of job openings in the US finally reached a peak, and reversed materially in November, when the latest JOLTS Job Openings and Labor Turnover data showed the biggest drop since the peak of the covid Pandemic, as a whopping 529K job openings were lost in November, the most since the 1.139 million jobs lost in April 2020. Still, even with the big drop, the total number of job openings remains a massive 10.562 million (which was below the 11.1 million expected) and not too far off the 11.1 million all time high.
Looking at the details, job openings decreased in several industries with the largest decreases in accommodation and food services (-261,000); construction (-110,000); and non-durable goods manufacturing (-66,000). Job openings increased in finance and insurance (+83,000) and in federal government (+25,000). The number of job openings decreased in the South and Midwest regions
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Maybe … maybe the realize like I do that this country is a piece of burnt toast – it just ain’t popped out of the toaster yet