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U.S. NEWS Wednesday 12 February 2020

U.S. open jobs fall sharply for 2nd straight month

ers added a net total of As a percentage of the moderately, but remains at
147,000 jobs in December. workforce, job cuts remain a healthy level. More fre-
Layoffs also rose in Decem- low. And weekly figures on quent job departures are
ber to nearly 1.9 million, the unemployment claims also typically a sign of job mar-
highest in more than two point to a low level of lay- ket health, because most
years. But that number is offs. workers leave their jobs for
historically volatile and may The number of Americans a better or higher-paying
not signify a shift in trends. quitting their jobs declined position.q

In this Sept. 18, 2019, file photo people stand in line to inquire
about jobs available at the Bean Automotive Group during a job
fair designed for people fifty years or older in Miami.
Associated Press
By CHRISTOPHER RUGABER back to December 2000.
AP Economics Writer Nearly all other measures
WASHINGTON (AP) — U.S. of the labor market remain
businesses sharply cut the healthy:
number of jobs they adver- The unemployment rate is
tised in December for the 3.6%, nearly a half-century
second straight month, an low, and employers added
unusual sign of weakness 225,000 jobs last month, a
in an otherwise healthy job solid increase.
market. "The trend in job growth has
The number of available remained strong through
positions dropped 5.4% January ... but the recent
to 6.4 million, a historically decline in job openings sig-
solid number, the Labor nals that job growth could
Department said Tuesday. slow at some point," said
There are still more open Daniel Silver, an economist
jobs than there are unem- at JPMorgan Chase.
ployed people, an unusual Over the past two months,
situation that has persisted openings have fallen across
for nearly two years. Be- all large industries covered
fore that, the ranks of those by Tuesday's report, known
out of work exceeded the as the Job Openings and
number of open jobs. Labor Turnover survey, or
Still, the total of available JOLTS. Some of the biggest
jobs has fallen by more declines were in construc-
than 1 million in the past tion, manufacturing, finan-
year, the biggest annual cial services, and retail.
drop since the Great Re- Other data in the report
cession. suggested hiring and the
Most of that decline has job market remains solid.
occurred in just the past Total hiring rose 1.4% to 5.9
two months. Job openings million in December. The
are now at the their low- JOLTS tracks gross hiring,
est level in two years. The while the monthly jobs re-
decline comes after job port counts net job gains.
openings had hit the high- The Labor Department said
est level on records dating last month that employ-