#NFPCryptoImpact
JOB VACANCIES IN THE US LABOR MARKET: THE TREND CONTINUED ITS UPWARD REVERSE
The number of open job openings in the US in November increased by +259K to 8.098 million vs. 7.839 million and 7.372 million a month earlier. The figures were again significantly higher than preliminary estimates, which predicted growth to 7.730 million. The number of job openings describes the dynamics of supply and demand in the labor market, a key factor influencing wages and inflation. The survey collects information from approximately 16,400 non-farm businesses, including traders and manufacturers, as well as federal, state, and local government agencies in all 50 states and the District of Columbia.
Over the month, the number of vacancies increased in private business (+273K), finance and insurance (+105K), but decreased in IT (-89K)
The decline from the highs of winter 2022 (11.855 million) has stalled for a moment. Let us recall that in “pre-Covid times” the level of open positions on the market was approximately 7-7.5 million.
The statistics will further clarify the situation on Friday, Non-Farm Payrolls are expected at +154K, Private: +130K.