The reports made by the Labour Department’s Job Opening and Labour Turnover Survey show that the number of job opening now is the lowest it has been in the last two years. And that is a matter of great concern. Along with that, it reports a few other labor market facts that will have an overall bad impact.
November and December of 2019 have been the two months that have seen the worst of the decline dating back to 2001. Lou Brien of DRW Trading noted.
Even since 2009, the number of job openings has not really seen a decline, and for that, the financial crisis was the leading reason. The number fell by about 1.34 million. So, to see a fall in job openings in 2019 of 1.06 million has been a worrying situation given that no such recession is on the horizon.
And the net change in job opening has more or less been positive from 2010 to 2019.The figure has had a negative value in just 5 of the months. Whereas in the last 7 months of 2019 each year, the number has had a negative value. And it has been much greater now than in any of the other 5 months.
Brien says that there is a downward revision of job opening was of 514,000 at the beginning of the month.It is said to be the largest one since March of 2009.However, the United States has added about 145,000 job openings to their reports.