📉 Jobs Dropping, But Y’all Still Hustling? US Job Game Strong! 🇺🇸💪
TL;DR; Job openings might be at a 2-year low, but still, pretty high compared to past years. Less quitting, more staying put. Are we loyal or just playing it safe?
While walking the streets, ever spotted one of those “We’re Hiring” signs with a snazzy QR code displayed? Well, as of June, you might be seeing a tad fewer of them. Jobs might be on a dip, but hold onto your resumes, folks, the market’s still sizzling hot 🔥.
Last June, job openings took a slide, dropping by 34,000 to land at 9.582 million. Wait, whaaat? 🤯 With all the TikTok challenges, Netflix binging, and avocado toast making, over 9.5 million positions were still up for grabs? And here I was, thinking my summer was productive.
But wait, there’s more: the quits have taken a dive by 295,000. Looks like peeps are holding onto their gigs tighter than they clung to toilet paper during the pandemic! 😂 Are we seeing more loyalty or just a lil’ bit of caution in the air? 🤔
If you’re wondering why the numbers are moving, thank the big boy Federal Reserve for their back-to-back interest rate hikes. They’ve been trying to simmer down that stubborn inflation, raising the policy rate by a whopping 525 basis points since March 2022. With rates soaring high, some say this might just be the beginning. Will we see the Fed keep them elevated even longer?
Meanwhile, manufacturing’s chilling, keeping things low-key and stable as we entered July. As for layoffs? Those have been heading south too, with a decline of 19,000. Seems employers are appreciating their peeps more, especially after the challenges of scouting talent during the COVID era. Maybe it’s time for a group hug? 🤗
Back to some math for the nerds among us (no judgment, love y’all 💙). In June, for every unemployed person, there were 1.6 job openings. The stats barely budged from May. So, despite the Fed’s moves and all the economic rollercoasters, the labor market’s looking like it’s been pumping iron, all resilient and buff.
But here’s the golden question for y’all, with jobs in plenty and fewer folks jumping ship: are we hitting the perfect balance or just waiting for the next big wave? 🌊 And for all those still scouting, do these stats make you hopeful or hasty?
Question: With the market playing this tug-of-war, where do you see yourself? Holding tight, making moves, or chilling on the sideline, waiting for your moment? 🤷♂️🕰️🚀
Disclaimer: This article doesn’t offer investment advice or any recommendations. Always consult with professionals before making decisions that may affect your financial or professional life.