Job vacancies in the US register the first drop in the year

Job vacancies in the US register the first drop in the year

The figure did not meet expectations, since according to a group of economists surveyed by the Bloomberg agency, a total of 11 million was expected.

The outbreak due to the Delta variant and the consequent increase in coronavirus cases during said month, is a factor that drove down the demand for employment.

Meanwhile, the rate of voluntary resignation from jobs reached a record (since December 2000) of 2.9% with respect to total employment, driven by the same vacancies that, in some cases, offer incentives and higher salaries.

The large number of vacancies reflects a mismatch between the demand and supply of employment, with the presence of 1.2 vacancies for every unemployed person.

Many sectors, from the manufacturing industry to restaurants, are eager to find workers, while fear of the virus, savings and the lack of full return to face-to-face school classes, invite them to stay in their homes, he says the Bloomberg agency.

Despite the fact that Covid cases fell in the United States, labor participation continues at the same levels in recent months and, in fact, fewer people looked for a job in September.

The greatest decline in vacancies was in the accommodation and food service sectors; and state and local education.

Hiring fell to 6.3 million, although there was also a drop in layoffs.

The JOLTS index (along with the monthly employment reports) is closely followed by the Federal Reserve (FED) when determining when to reverse the stimulus policies set by the pandemic: the same monetary entity indicated that it will not increase interest rates until the labor market recovers.

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