Reported 6 days ago
Recent data from the Job Openings and Labor Turnover Survey (JOLTS) shows 8 million job openings in August, surpassing expectations. However, economist Daniel Zhao argues that this figure obscures underlying weaknesses, as the quit and hire rates have decreased, reflecting a weaker labor market reminiscent of the post-housing crisis era. Employees are feeling insecure due to layoffs and hiring freezes, with less than half maintaining a positive outlook for the next six months, indicating a tight job market and fewer career advancement opportunities.
Source: YAHOO