The Department of Labor's latest JOLTS (Job Openings and Labor Turnover Survey) report turned out to be much worse than expected when it was reported yesterday. The number of openings fell by more than 600,000 and prior numbers were revised downward as well. ZeroHedge does a good job summarizing the report and its implications:
Labor Market Implodes: Job Openings Crater, Prior Data Revised Sharply Lower
The was latest 6-sigma miss to expectations from the increasingly ridiculous “data” from the BLS.
Tyler Durden
While the number of openings remains high and above the number of unemployed, the downward trend is of concern. Danielle DiMartino Booth published this chart, which at the very least raises questions about the health of the economy and the significant divergence between the GDP and other measures of the economy.
And, this just in:
Private payrolls increased by 103,000 in November, below expectations, ADP says
Private sector job creation slowed further in November and wages showed their smallest growth in more than two years, ADP reported.
