
Nationally job openings are down, and employment levels are up.
Well, the word is out that the number of jobs open at the end of September has decreased. And, in parts of the United States the number of people looking for a job has also decreased.
On the surface, this might sound like bad news. But I'm not so sure. It seems positive to me.
According to finance.yahoo.com,
‘New data from the Bureau of Labor Statistics released Wednesday showed that there were 7.44 million jobs open at the end of September, a decrease from the 7.86 million seen in August and the lowest level of job openings since January 2021.’
What I get out of this is that the job market is stabilizing a little bit. Fewer jobs available. Fewer people leaving their job to try and take another, better job. Some areas of the US are reporting less job turnover with employers not hiring additional people but hiring replacements. Workers in general are quitting less, which means they're much more confident about their job and their prospects.
Economists are saying that we can expect the Fed to possibly schedule another drop in the prime rate which, for most people, would be a good thing. Anytime you can drop the cost of borrowing money, as far as I'm concerned, you're helping the economy. I can't help but feel that lower interest rates benefit almost everyone.
On the flip side, if you're out of work and your savings are depleted, there's not a lot of blue sky in this report for you.
Job openings fall to lowest level since January 2021
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