The US labor market, according to recent report data, shows various indicators of slowing down. Recruitment is slowing down as shooting programs speeding up from 2020, although illegal payroll reports for September are likely to be delayed due to government shutdown.
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The unemployment rate remains close to 4.4 % historical, but ADP data shows that the private sector lost 32,000 jobs in September, which does not lose expectations. A collection of poor employment data on Thursday indicates that the labor market is trapped.
The job crashes are falling
Revelio Labs Labor Intelligence Data show that there were 17 million job opening in September, down 17.2 % compared to last year. Active posts for seasonal adjustment were at least three years in their lowest level.
The most severe job loss in the professional and business service industry has occurred, down 31.4 % compared to last year. This was followed by the public sector and “other services” and decreased by 30.5 % in both areas compared to last year.
“Increased uncertainty forces firms and investors to delay new projects and slow recruitment reduces the softening of labor demand. Looking forward, fewer posts point to even weaker job growth,” the Revelio report said.
Recruitment Plans Since the Time of the Lowest Program
According to Challenger data, Grey & Christmas, employers have announced that they plan to hire 204.939 workers this year, which is 58 percent decrease compared to the same period last year. This is the lowest number of planned recruitment in the first nine months of the year from 2009.
This drop is largely attributed to the hire of a humble season. Last month, the company recorded only 100,800 seasonal recruitment programs, part of the 401,850 seasonal recruitment planned until October last year.
Source: Indexbox market information platform
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