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US Labor Shortages Shift to Higher-Paying Industries, “Quits” Decline for Second Month but Still in the Astronomical Zone
Job openings in January remained at the upper end of the astronomical zone, the second highest ever, just a hair below the record set in December. Companies reported 11.26 million job openings (seasonally adjusted), up by 57%, or by 4.1 million, from January 2020. The astronomical zone started developing in mid-2021. These job openings in the JOLTS data from the Bureau of Labor Statistics are not based on online job postings but on a monthly survey of 21,000 nonfarm businesses and government entities, asking them how many actual job openings they had at the end of the month. chart “Quits”: 4.25 million workers ... (full story)