The number of available jobs in the U.S. leveled off late this summer, the latest sign momentum in the labor market is easing six months after the coronavirus pandemic took hold in the U.S.
The number of available jobs in the U.S. leveled off late this summer, the latest sign momentum in the labor market is easing six months afterThe increase in the number of job postings, a real-time measure of labor-market activity, has slowed dramatically since late July, and last week stood about 20% below 2019 levels, according to data the job-search site Indeed.com shared with The Wall Street Journal.
Job postings on the site plummeted this spring when the pandemic hit. By May postings were 33% below February’s prepandemic level. But as states allowed many businesses to reopen, demand for labor improved steadily through July, and in August postings were about 12% below the early February level. Since then, the level of postings has largely plateaued and remained well below year-earlier levels. February is typically a low point during the year for hiring.
The job-postings data comes as the economy continues to dig out of the deep hole created by efforts to contain the pandemic.
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