U.S. Job Vacancies Dropped 1% Again Last Week

Labor demand dropped again for the 5th consecutive week as the job market continues to deteriorate

We’ll provide commentary on the U.S. job market next week before Thanksgiving, but for now we want to publish our weekly U.S. job vacancies data for last week.

Last week, active U.S. job vacancies posted on company and employer websites globally dropped 1.1%, the 5th consecutive weekly decline. Since the election, labor demand in the U.S. has declined 15%.

Since April 1st, labor demand has dropped 12%.

Since April, labor demand has dropped in every single state in the country.

Since mid-September, labor demand has dropped significantly in both manufacturing and services.

And last week, labor demand fell in most sectors.

Over the past month or so, labor demand has also dropped significantly in both blue and white collar jobs.

And last week, nearly every single occupation group showed a decline in labor demand. And the only jobs that saw an increase are the ones that typically are the hardest to fill.

Since October 1st, daily job vacancies in the U.S. posted by employers worldwide has dropped from 2.72M to 2.51M yesterday, a decline of 7.7%

Again, we’ll provide our commentary on the U.S. job market early next week, but the short version for now is that the job market continues to deteriorate and, as we noted on Halloween, it’s moved well beyond softening or cooling to something closer to crumbling. More to come next week.