Employers have significantly reduced their job openings
of ConsumerAffairsRemember the Great Resignation in the wake of the pandemic, when many people quit their jobs and didnt look for another one? Times have changed.
On social media, many job seekers complain that it has become extremely hard to get hired. New data back that up.
The Bureau of Labor Statistics reports the number of job openings decreased to 7.6 million on the last business day of December. A decline of more than a half-million. Over the month, hires and total separations were little changed at 5.5 million and 5.3 million, respectively.
Job Openings
For 2024, the number of job openings decreased by 1.3 million and the job openings rate fell to 4.5%.
Here are the industries that decreased their hiring the most:
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Professional and business services (-225,000)
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Health care and social assistance (-180,000)
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Finance and insurance (-136,000)
At the same time, businesses engaged in the arts, entertainment and recreation increased hiring by 65,000. Economists suggest that industries that have slowed their hiring are reacting to economic uncertainty.
Industries that cant find enough workers
In something of a paradox, some industries are struggling to find employees. A report by the Associated Builders and Contractors estimates the construction industry will need an additional 439,000 workers this year to meet demand.
Tech companies are also struggling to find employees. Industry sources predict the U.S. technology industry will need another 1.2 million employees by next year.
Independent restaurants are also struggling to hire people. A popular restaurant in suburban Richmond, Va., recently canceled its lunch business due to a lack of staff.
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Photo Credit: Consumer Affairs News Department Images
Posted: 2025-02-05 15:08:53
