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Job Openings

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Labor market shows cracks as December JOLTS signals softer openings
economy23 days ago

Labor market shows cracks as December JOLTS signals softer openings

December JOLTS data show job openings fell to 6.5 million and the openings rate to 3.9%, while hiring rose only modestly to 3.3%, signaling softer demand for workers. The downturn is echoed by rising unemployment claims and notable layoffs, though some indicators (like Bank of America data) suggest pockets of improvement, leaving the labor market in a fragile stabilization phase that could influence Fed decisions.

AI Launch Correlates with Job Decline and Market Surge, but the Real Cause Is Debated
economy4 months ago

AI Launch Correlates with Job Decline and Market Surge, but the Real Cause Is Debated

Since ChatGPT's launch, the US stock market has surged while job openings have fallen sharply, but economist Derek Thompson argues that the primary causes are monetary policy, trade and immigration policies, rather than AI itself. The decline in jobs is more linked to interest rate hikes and trade restrictions, with AI-related sectors showing less decline than others, and AI stocks contributing significantly to market gains. The situation highlights a divided economy: a booming AI-driven sector and a sluggish broader job market.