The number of available jobs in the US shrank in January (4 min read)
January’s JOLTS report shows US job openings fell to 10.8 million, down from the revised 11.23 million in December, pointing to a cooling labor market. However, there were still nearly 1.9 jobs for every job seeker, and the decline is far too modest to convince the Fed that labor market conditions are cooling enough to bring down inflation. The Fed uses the JOLTS data as a proxy for labor market demand, and the continued imbalance between available jobs and workers means the US job market remained tight in January.