June 2024 US JOLTS Report: Waiting for Stabilization

From hiringlab.org

For those looking for further signs of stabilization in the labor market, this latest JOLTS report won’t provide much comfort. Outside the ongoing stability in headline openings, hiring has fallen dramatically and continues to slide, falling to levels last seen in March 2020. And quits remain exceptionally low. It’s difficult to make too much of one month of data, and some headline trends still look largely fine. The jury is still out, but continued deterioration – when the margin for error is already slim and getting slimmer – would be a problem. Job openings are the one series looking stable right now, with ... (full story)