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The number of job vacancies in the United States decreased slightly in the first week of December, indicating a weakening of the labour market in the context of a wave of coronavirus infections and a weakening of fiscal support to households.
According to a job research site managed by ZipRecruiter in collaboration with the Wall Street Journal, websites in the United States created an average of 10.7 million jobs a day this month, down slightly from the 10.9 million in November.
These figures are the latest signs that the economic recovery that began to cool down in the spring is cooling. Employment growth slowed sharply in November compared to the previous month, the Ministry of Labor said Friday. Employers created 245,000 new jobs last month, compared to 610,000 in October, the Ministry of Labour announced.
One of the recruitment measures – the share of LinkedIn members who have included a new employer in their profile, indexed to the monthly average for 2015-2016 – increased by 0.8% in November compared to October. From September to October, the index rose by 18.1%.
I am worried about a temporary standstill or deterioration when we move in December and January, he said.
Guy Berger,
Chief economist at LinkedIn. He cited as an example a triple blow to the factors putting pressure on the labour market: the fall in tax support for households, the spiralling spread of coronavirus cases and the new restrictions imposed on businesses and households to curb the spread of infection.
The question is actually how many companies are feeling the crisis and how many are regulating the settlement of their head against the crisis: I see the light at the end of the tunnel, so I’m willing to keep the pipeline open for new recruits, even in these harsh winter months, Mr. Berger said.
The employment data show that the recruitment rate slowed down considerably in November. Eric Morat of the WSJ wonders why the recovery in the labour market has subsided. Photo: Jeff Chiu/Presse Associée
The U.S. seven-day moving average for new Covid 19 cases broke the 200,000 mark for the first time on Monday, according to the analysis of Johns Hopkins’ data by the Wall Street Journal – three times higher than the summer peak. By Tuesday, more than 104,000 people with the disease had been hospitalized, exceeding the maximum levels of previous outbreaks in April and July, according to Covid’s follow-up project. The country currently has an average of 2,200 deaths per day, which is close to the peak reached in the first months of the pandemic.
It’s hard to say how destructive this last wave is, but it’s clear it will be, he said.
Josh Wright,
Chief Economist at Wrightside Advisors, who notes that companies in many sectors have learned to work with minimal personal interaction since the spring. But we’ve seen the preview, we know where it’s going, and we know it’s going the wrong way.
Hiring low-paid jobs, such as restaurants, is likely to be more vulnerable than well-paid jobs because the decline in activity caused by the virus and associated business constraints is likely to be more threatened, Wright said.
Demand has increased for some service providers. For example, according to ZipRecruiter, the number of vacancies in warehouses and within the US Post is 2.5 times higher than in February. The number of childcare places at home has more than doubled compared to February.
According to the Ministry of Labour, on Wednesday, the last working day of October, there were 6.7 million vacancies with seasonal adjustments. At the end of September, 6.5 million items were open, compared to 7.3 million a year earlier. The number of workers recruited in October remained stable at 5.8 million, while the number of layoffs and dismissals increased from 1.4 million in September to 1.7 million.
The number of vacancies in October was significantly lower than the 11.1 million people who were unemployed that month, the ministry said.
The report lags approximately one month behind the monthly employment report and private sector data, which are monitored more closely.
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