#USJobsSlump
#USJobsSlump: Labor Market Cools as Job Openings Decline š
As of December 2024, the U.S. job market saw a significant drop in job openings, falling to 7.6 millionāa 556,000 decline from the previous month and down 1.3 million year-over-year.
Key Sector Declines:
š» Professional & Business Services: -225K
š» Health Care & Social Assistance: -180K
š» Finance & Insurance: -136K
Despite fewer openings, hires remained steady at 5.5 million, and quits held at 3.2 million, signaling that while hiring slows, existing jobs remain stable.
This trend suggests employers are becoming more cautious, making future job data crucial in assessing economic direction and policy impacts.
#JobsReport #USLaborMarket #Employment #Economy