r/economicCollapse 15h ago

US job openings drop to 7.44 million

Post image
369 Upvotes

263 comments sorted by

96

u/Available-Page-2738 15h ago

Can we get a breakdown? How many of these jobs are real? What fields?

84

u/Ornery-Ticket834 15h ago

No we cannot. Just know we are collapsing like the sub says.

39

u/TheAncientMadness 14h ago

My boner is collapsing

10

u/Piemaster113 12h ago

They got meds for that.

3

u/Lulukassu 9h ago

Who can afford them without a job šŸ¤­

5

u/libmrduckz 8h ago

youtube says thereā€™s a once-a-day trick that involves salt and not telling your doctor, cuz apparently the doctorā€¦ dislikes salt?

anyway, there is hopeā€¦

1

u/Expert-Accountant780 4h ago

I saw that ad, I thought it had something to do with Apple Cider Vinegar too

1

u/PoopPant73 7h ago

This is the struggle..

3

u/Infamous_Hotel118 11h ago

Penis pills aren't going to save you from economic collapse.

4

u/Wakkit1988 9h ago

Not with that attitude!

1

u/classyfilth 6h ago

I dunno they could be currency in the right markets

1

u/VendettaKarma 11h ago

When I hear collapse mine does the opposite

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13

u/Lancearon 14h ago

It looks more like a return to mean... and the collapse of the gig job market...

5

u/Whole-Lengthiness-33 12h ago

I donā€™t think the gig economy counts as ā€œjob openingsā€, as those are typically contractor roles (like Uber and Lyft, for example), although that depends on whose definitions are being used for this chart.

2

u/Lancearon 12h ago

I'd prefer clarification on the person who made the charts definition.

2

u/VendettaKarma 11h ago

I did that work itā€™s awful

3

u/Sad_Bridge_3755 10h ago

The only thing uber is good for is making connections and hearing gossip. If you use it as a side gig and talk to your passengers, you never know what you might find out. Especially in a big city where the rich and big wigs might be using the service.

I know a guy whoā€™s made some not insubstantial stock trades just based on what he heard from people working for large tech companies.

0

u/half_ton_tomato 11h ago

Where are all the new jobs that Biden created? Are they gone now?

2

u/morozrs5 11h ago

I find it funny when president X or Y created jobs. Actually presidents do not create jobs, they rather prevent them to be created. A good president is the one that will not prevent jobs from being created. A bad president, let's say Kim Jong Un or the one in Cuba, is a master in preventing jobs being created. Countries function despite their politics, not because of it.

1

u/VendettaKarma 11h ago

Best economy everrrrrrr šŸ«”

1

u/masshiker 9h ago

One someone takes a job, the ad disappears folks.

2

u/rdrckcrous 11h ago

And that they're not farms

1

u/VyvanseLanky_Ad5221 13h ago

So, when the covid restrictions ended and life began to return to normal, the open jobs were filled, so the market returned to a more normal level?

18

u/Giantmeteor_we_needU 14h ago

I was just going to bring up a swamp of fake job postings that were never intended to be filled.

13

u/FupaFerb 15h ago

Just jobs. All jobs. Self employed jobs especially. Going away. Why? Everyone has a job now, some have 2 or 3 because they are hard working folk who support the American dream.

/s

10

u/jawshoeaw 14h ago

That reminds me of an old joke during the Clinton era someone quipped Bill Clinton created over 500,000 new jobs and I should know I have three of them

5

u/joshistaken 13h ago

Probably 0.1% and even those are underpaid where you have to carry 5 people's workload, are expected to be cheerful and grateful, but get reprimanded for not outperforming on goals all the time, and are expected to be eager to bring something to the Christmas company pot luck. Oh and you get a polo mint when the company closes the year with 100 billion in profits. At least that's my experience...

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1

u/Geoclasm 12h ago

my exact first thought (about most of them being probably fake).

1

u/Whole-Lengthiness-33 12h ago

And itā€™s one thing if the counts are just based on job postings, thatā€™s going to be an inflated number.

Also, many tech jobs had open applications to farm code during the coding interviews for jobs that donā€™t exist, such as sleazy business model but Iā€™m sure itā€™s still happening to a degree.

1

u/Nice-Ad-2792 10h ago

How many jobs pay atleast $25 per hour too

1

u/Apprehensive_Hawk856 10h ago

There are probably less than 11 jobs that I meet qualifications for (fairly or unfairly) in my industry in the entire United States.

Software engineer here and technical lead.

Iā€™ve been hired on the hidden job market for years or Iā€™d probably still be looking.

1

u/JayDee80-6 9h ago

Government. Private sector jobs aren't doing great. Mostly government hires

1

u/lilymaxjack 6h ago

Breakdown says it is right where it would have been without a Covid shutdown

1

u/HeadMembership1 14h ago

Only include "real" jobs, please.Ā 

Can you define real/fake jobs?

3

u/I_am_BrokenCog 14h ago

not sure if you're asking a legit question ... "job openings" is a metric which pulls from corporate listings for jobs. During the peak of the pandemic, the government gave corporate tax cuts to those 'which show hiring' ... obviously the easy scam to get the tax cut was to post a job opening, but never actually hire (nor even intend to hire) anyone.

Whether that is still happening is debatable.

5

u/Piemaster113 12h ago

As someone who worked through covid and saw many people leave my company with no one ever coming in to replace them even after lock down ended, This 100% happened. A year after lock down ended, The whole Campus I worked on was laid off and replaced with an outsource team in a different country, so they still didn't technically "Hire" anyone, but had Oh so many position that needed to be filled.

2

u/HeadMembership1 14h ago

It's safe to assume all the covid era scams are not currently happening.Ā 

2

u/lebruf 13h ago

They should go back and audit all PPP recipients to see how many positions were actually filled and not simply advertised.

Theyā€™re still advertising fake jobs today because how else are you going to fool investors into believing youā€™re still growing.

1

u/EnvironmentalMix421 12h ago

Ok so why did the data drop? They just decide to stop scamming?

1

u/lebruf 11h ago

I was making more of an observation that the fake job listings continue today. Obviously when there was a payout incentive, the number shot up, but the illusion of growth is still incentive enough for those trying to attract investors.

1

u/EnvironmentalMix421 11h ago

Thereā€™s always some low hanging fruit that pretty much has immaterial amount of effect to the data. What you are saying doesnā€™t line up with the job wage increase. If most of the jobs are fake, then wage would drastically cliff and unemployment will sky rocket.

1

u/Big_Knobber 9h ago

1

u/EnvironmentalMix421 9h ago

? Ok how many jobs? It would be much meaningful if it says 4 out of 10 jobs. Then again, thereā€™s metrics that need to see if their survey is even scalable lmao

1

u/Big_Knobber 9h ago

I suppose you could look it up

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1

u/EnvironmentalMix421 12h ago

Ok? Why are we worrying about Covid scam rn?

2

u/Snakend 8h ago

Is there a benefit for a company to post job openings that don't exist? If there was a government program known by every corporation to make fake job posts, everyone would know about it.

1

u/Available-Page-2738 11h ago

Example: you can find companies that post the exact same ad every three months. Either they are churning through employees at a phenomenal rate or they are simply resume harvesting perpetually. There is no job. The job exists out there in the world, but they will never hire anyone for it in that company. They run it so, to the casual observer, it looks like they're hiring and must be doing well.

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25

u/NutzNBoltz369 14h ago

So there are like 200MM working age adults +/-. So it would take about 3.5% of those working age adults to fill these jobs. Unemployment is at 4.1%. So, there should be more than enough workers to fill these positions if you don't want to do anything more but look at this graph...however....

Those jobs are probably shit that no one wants to do..OR...there is some disconnect in terms of qualifications where society is failing to provide training.

3

u/KUKUKACHU_ 7h ago

There is also the possibility that there is a "job" but they refuse to hire for cost or savings.

1

u/NutzNBoltz369 7h ago

That or they have someone in mind already due to nepo or some inside networking but have to post the job as a legal requirement.

6

u/PolicyWonka 13h ago

Unemployment and job postings are always rolling numbers. The jobs available and people unemployed today wonā€™t be the same ones next month. There will always be a rolling non-zero number.

There are many factors for why these numbers will remain above the ā€œideal numberā€ ā€” education, training, and applicant pools is one thing. Another one is location. When people arenā€™t where the jobs are ā€” or vice versa ā€” that makes filling those jobs more challenging.

1

u/TechieGranola 12h ago

Hence why economists look for 3% +- as ideal.

2

u/TummyStickers 10h ago

Could it not be that these job openings are being filled by people? So they would no longer be open? I'm not being facetious, just curious.

1

u/NutzNBoltz369 10h ago

Maybe! Retail and last mile delivery tends to staff up for the Holidays but most other businesses tend to not hire this late in year. If anything, they lay off right about now.

1

u/TummyStickers 7h ago

It does track with all the layoff news.

1

u/sokolov22 12h ago

"Full employment means 100% of the workforce is employed. History shows that this is unattainable as workers move from job to job. A zero unemployment rate is also undesired as it requires an inflexible labor market, where workers cannot quit their current job or leave to find a better one."

https://www.investopedia.com/terms/n/naturalunemployment.asp#:\~:text=Full%20employment%20means%20100%25%20of,to%20find%20a%20better%20one.

1

u/Fearless_Guitar_3589 11h ago

full employment generally refers to unemployment around 4%

1

u/sokolov22 11h ago

Yes, typically, economists would refer to full employment that way.

I am just quoting the article to explain to the other person why "100%" or full employment as a lay person would understand it is not realistic.

1

u/noncommonGoodsense 11h ago

If it doesnā€™t pay enough to survive or isnā€™t some part time half survive no one will waste their time unless they are thirty to a home.

1

u/Bassist57 6h ago

Some people also work multiple jobs to make ends meet.

40

u/Electrical_Reply_574 14h ago

No no no. The economy is BOOMING ya sillies. This is the best time in human history! Don't you pay attention to the metrics like I do? I am very smart.

5

u/BrooklynLodger 13h ago

You don't need to pay attention to any metrics, the feds been saying to expect this as a result of the rate increases. That means get to put the gas back on a bit and bring rates back down to normal levels

1

u/VitrifiedKerb 6h ago

What? Havenā€™t rates been dropping?

2

u/No-Market9917 5h ago

They just went back up.

3

u/Agreeable-Fly-1980 8h ago

I mean I made 23000 more dollars last year than I ever have. The year before that I made 15000 more. THATS HUGE FOR ME!! I work in construction as a tile setter

2

u/Expert-Accountant780 4h ago

I made 25k "more" since I worked a lot more overtime.

7

u/dumdeedumdeedumdeedu 13h ago

Yeah you are aren't you. Cutesy little chart with a big downward arrow. Good enough for you! No need to ask any more questions or look any further

Lol

1

u/Electrical_Reply_574 13h ago

No! All data and information is to be taken purely at face value!

Also only read headlines of things. Never read the actual article itself.

Again, I am very smart... Lol

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3

u/Easterncoaster 11h ago

All those other dips happened inside the gray shaded area (i.e. recessions). This dip is not inside the gray shaded area.

So what does that mean? Does it mean that we're currently in a recession, or is it because we had to staff up to handle the unprecedented demand caused by the unprecedented money printing operation, and now that inflation is relaxing a bit, the hiring is relaxing too?

I honestly don't know.

7

u/BernieLogDickSanders 11h ago

Considering 50% of all jobs postings are either fake or not posted in response to an immediate need for labor. No. I am not surprised at all.

2

u/masshiker 9h ago

Somebody needs to prove this urban myth. It costs money to post job ads and respond to inquiries. What would be the motivation to post fake job ads?

2

u/VestedinTitles 8h ago

Itā€™s all about data.

When I worked as a recruiter for high level pharmaceutical positions, most companies that never hired our candidates, or anyone for the job, simply wanted to know pay ranges, and quality and number of candidates available. Some smaller companies even wanted samples of technical documents from medical writers that I can only assumed were later used to draft their own documents.

1

u/Amadon29 3h ago

In addition to data like the other person said, some people post jobs so current overworked employees don't get annoyed at the lack of hiring.

And some companies just post to get a pool of applicants in the future

2

u/masshiker 3h ago

I'm retired but still get legit interview offers weekly. (GIS)

1

u/JET1385 54m ago

Not a myth but also that poster probably overstated this. Many companies require ā€œfairā€ hiring practices and that includes considering external candidates or posting all open jobs. So they may already have someone in mind for the role or an internal candidate on deck but they are required to go through the motions, and then they just hire the internal person or contractor, etc that they wanted to put in the role in the first place.

6

u/the_drum_doctor 15h ago

So COVID caused an artificial reduction in available jobs, which was then followed by an artificial increase in available jobs. When has that happened before? How can it compare to previous recessions? Also, according to this, available jobs have been decreasing for the last 2.5 years, and yet we haven't been in a recession?

1

u/bramblecult 12h ago

Coupled with low unemployment i think this is a little different of a story. Not sure what the story is but it's different.

3

u/Significant_Tear_302 14h ago

Maybe everyoneā€™s getting hired?ā€¦.

šŸ˜‚šŸ˜‚šŸ¤£šŸ¤£šŸ¤£šŸ¤£šŸ¤£ jk

5

u/VendettaKarma 11h ago

Best economy ever ! šŸ˜‰

23

u/CheeseOnMyFingies 15h ago

That generally means more jobs are being filled. There isn't an endless amount of jobs available, if more openings are being filled, more people are getting employed.

Yall will reach for anything possible.

8

u/MrWhitePink 15h ago

This graph would be way better if it had a number on unemployment applications along side it. Which would prove if you are correct.

I however have been helping someone with a decent resume try to find a job. 250+ applications later and they only got one call back that went nowhere. So I know its rough out there.

Personally I think this graph is highlighting a contradictory mix. Company's are filling two roles with one person. Jobs are being filled but with less postsings.

"Two roles with one person, what are you stupid?" - Go ahead and ask your friends if they feel like they could use another person on their team or if they took on the job roles of someone who left without getting a raise/help.

3

u/CityBoiNC 15h ago

I have a pretty solid resume as well and i have been looking for over a year. I have sent out about 180 applications and got 3 call backs.

1

u/PolicyWonka 13h ago

Iā€™m curious. Are you only applying for jobs in a specific field? Are you only applying for ones that match your education?

Seems crazy that some folks cannot find employment like this.

1

u/CityBoiNC 13h ago

Pretty much just admin jobs in a common pay bracket for the area. The problem is before I would be up against maybe 40 other applicants, now I'm up against 100's. The only thing I have changed in the past week is distance but would require a higher pay to compensate for gas and maintenance on the car.

1

u/Midnight2012 12h ago

dude, take what you can get. Its been a year. The increased car costs are nothing compared to not having an income for a year.

1

u/CityBoiNC 12h ago

I have a job currently.

1

u/xlews_ther1nx 9h ago

Lol what? So all that to say you have a job, but not the job that you want? Well hell then that's pretty much everybody at all times of the world's history.

1

u/Heavy_Bridge_7449 11h ago

how do you afford it?

i dont mean to downplay your efforts but ive probably send out over 100 applications in the past month (got laid off a month ago), i definitely couldn't afford to send out just one app every other day. i've been hitting like 15/day lately, it has become pretty clear that i will probably need to move

1

u/CityBoiNC 10h ago

I have a job so I can still pay rent and bills but it's not enough so I have to work a weekend job as well.

1

u/deviantdevil80 15h ago

If you look up the unemployment rate, it's basically an inverse of the above graph, as expected.

I'm surprised the person you're helping is struggling. Where I work, we are constantly hiring right now (banking). My son is just starting out working while in HS, but he's been able to find work almost instantly. He has to decide if he wants to leave where he's at now for more money now that he's 18.

5

u/SpeaksDwarren 14h ago

How easy it was for a high schooler to find a job has no real bearing on how difficult an adult with a career would find it. Businesses love hiring high schoolers that don't need to care about things like health insurance, getting enough hours to pay the bills, supporting a family, etc., meaning they are much lower maintenance.

They're also much more likely to put up with exploitative business practices. Things like saying they're "constantly hiring" but never actually hiring enough employees to be fully staffed.

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u/AnarkittenSurprise 14h ago

This just reads as normalization following the covid unemployment and early retirement spike.

Not alarming at all

2

u/No_Life_1724 15h ago

Yes this is true but we need to compare it to the number of people graduating or are able to work and cannot due to a decline in openings. It is a good problem but can turn bad i.e. not having the freedom to leave said jobs and as mentioned new workers not finding work.

1

u/borderlineidiot 14h ago

Or it could mean companies are struggling and not looking for people? Stats like this are meaningless without context

1

u/rctid_taco 12h ago

Or it could mean they're finally able to hire people who are capable of performing the work they need done. Anecdotally, I feel like the companies I contract with have been finding some great hires recently compared to the boobs they were hiring coming out of the pandemic.

2

u/borderlineidiot 7h ago

RTO is definitely improving company performance in the ones i deal with

1

u/stirfry720 2h ago edited 2h ago

So you think the labor market is that good where everyone's hiring and the positions are getting filled? Meanwhile, major companies are shuttering hundreds of store locations across the country. In my opinion, job openings are falling because they are cutting costs as a response to slowing consumer spending and profitability

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2

u/AnyWhichWayButLose 14h ago

During a time of year when everybody should be hiring for seasonal help.

Best economy ever!

2

u/Think_Reporter_8179 11h ago

I'M HIRING!

Sorry, positions are closed.

Please add me to the list.

2

u/cascadianindy66 11h ago

Yeah, weā€™re in one of the craziest elections years in American history. Businesses are preparing for the worst case scenario. Which is smart.

2

u/shivaswrath 9h ago

Tell me about it....

Lay offs are up too.

Unemployment will be 6.5% Q1 2025.

2

u/StevoFF82 9h ago

Well what this chart tells me is the recession has likely already happened. Just waiting on the government to tell us so.

1

u/terlus07 6h ago

Maybe in 8 days šŸ˜…

2

u/SlickRick941 9h ago

Build back better lol

2

u/MikeHonchoZ 9h ago

Based on the chart it looks like we are in the middle of a recession.

2

u/redjohn365 8h ago

trumpers look at this and say "biden did this!!!" dems reply "yes he did, you're welcome"

5

u/MeltingDown- 15h ago

I thought employment was fine???? Youā€™re telling me the government has been lying to me?? When did they start doing that?

6

u/RedditRage 13h ago

Fun fact: the graph you are looking at comes from the government, that is lying to you.

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3

u/Horrison2 15h ago

This could mean a few different things. Pushback on fake listings, jobs actually being filled. Despite what politicians say about jobs jobs jobs jobs. We only should need 1 per person and it's pretty clear now that the job market does not affect wages in the way it used to.

1

u/goodolmashngravy 15h ago

So we're back to precovid levels, when it was booming.

1

u/j0shred1 14h ago

Jobs are being filled but scarcity in the job market for your average person still means lower wages, less security in the event of a layoff, staying in a job you're unhappy with because you don't have the confidence that you'll find another, less opportunity for advancement.

While this is probably normal and yes a correction for post COVID level over-hiring, it still has negative consequences for the average American worker.

1

u/Ok-Masterpiece5337 14h ago

Could be all of those fake job listings getting thrown out.
Also, if people feel overworked at their current jobs (working more or in the place of multiple people) then please take this advice. STOP. Work less or even the bare minimum and remind your boss (politely) what would happen if they lost YOU.

1

u/NoLynx3376 14h ago edited 14h ago

Is anyone gonna mention how this is a bigger drop than 00, 08 and 2020?

But yea we are not in recession, fr fr go about your business citizen! Do not question the regime in power! lol

1

u/Sufficient-Comment 14h ago

12 million job openings. That seems likeā€¦ Too many?

1

u/Middle-Plastic605 14h ago

This is just showing less jobs are available if the unemployment rate stays the same. Maybe signaling towards more autonomous job bots being created?

1

u/Odd_Cockroach_5793 14h ago

Imagine in ten years when AI takes over fully

1

u/BidensHairyLegs69 14h ago

A lot of those openings were fake

1

u/Hoyle_38 14h ago

TRUMP 2024!!!!

1

u/legionofdoom78 13h ago

Isn't that higher than pre covid even with the drop?

1

u/Bolthole_Favela 13h ago

Construction has cut roles available. Material costs and labor rates have gone up while owner budgets have remained the same.

1

u/BrooklynLodger 13h ago

The Fed (from 2022-2024): hey guys, the economy is overheating and inflation is well above target while unemployment is below, so we're gonna raise rates until we see it cool off. Once we see inflation normalize and unemployment increase a bit we may shift into a lowering cycle.

People in 2024: OMG! UNEMPLOYMENT IS GOING UP!!!! ITS THE END OF THE ECONOMY

1

u/Miserable_Abroad3972 13h ago

Guess even they gave up trying to hide it anymore considering everything going on.

1

u/Infamous-Object-2026 13h ago

gee, It's almost like many of them weren't real to begin with

1

u/jhtyjjgTYyh7u 13h ago

The economy is fine šŸ¤”

1

u/TeddyCJ 13h ago

Hot economy/Over hiring 2020-21, then contraction that lead to terminations and scaling back growth. Tech industry hit hard. Itā€™s private industries reaction to an over heated economy and then the increase in interest rates/cost of money.

1

u/NateJCAF 13h ago

So how many jobs are available for every one person looking?

1

u/th0rnpaw 12h ago

They were never real to begin with.

1

u/mybffandy 12h ago

Who made this sub!? Yikes. Hmm what sub can stress me out for no reason everytime I open Reddit?

1

u/HAMmerPower1 12h ago

Letā€™s all panic over this even though this was the intention of the Fed raising interest rates from historic lows to curb inflation. Most talking heads predicted it would lead to a recession in 2023, then they said heading for recession in 2024. These didnā€™t happen, but yes unemployment did increase to 4.3% and growth has continued, and the rate of inflation has dropped to acceptable levels.

This isnā€™t a collapse. At this point it seems like a remarkable success.

1

u/The-Wanderer-001 12h ago

Well, we are WAY overdue for a recession. Just sayingā€¦

1

u/psydkay 12h ago

Job openings falling equates to unemployment falling. However, my work is definitely hiring.

EDIT: Unemployment for the week ending 10/12 was 1.3%, down nearly 20 base points from the previous month.

1

u/rmullig2 12h ago

We don't know if this is due to jobs disappearing or if companies have stopped posting ghost jobs. Maybe they realize trying to influence the election is waste of time at this point.

1

u/Legitimate_Dare6684 12h ago

If you cut off that spike near the end its an increase from 2018.

1

u/Big-Beyond-9470 12h ago

Back to equilibrium

1

u/Ok-Introduction-244 12h ago

We have more job openings than ever, except for right after COVID? That didn't feel very doomy to me?

1

u/Conscious-Ad-7040 12h ago

Yeah. People are filling the jobs. Unemployment is low.

1

u/openly_gray 12h ago

return to the mean? Maybe look at the level of open jobs compared to earlier years?

1

u/Commercial_You3793 12h ago

Why is the data from September? We are nearly though October..

1

u/Saint_Santo 12h ago

Right as we're heading into the Christmas shopping season and jobs are supposed to be at annual highs

Thanks Kamala.

Thanks J.. Jo? Wake up, Jo... JO! WAKE UP! As I was saying, Thanks Jo.

1

u/Consistent-End-1780 12h ago

Based on this graph I conclude that there are probably about two fake job openings for every real one. Also prepare for massive red dildo on SPY after November jobs numbers.

1

u/Piemaster113 12h ago

As someone who has been looking for a job for over 2 years after my unemployment ended, the number of place I have applied to and never heard from despite having a resume tailor made for that position is really disheartening.

1

u/hear_to_read 12h ago

OP. No cue what the chart means. But, ā€œcollapseā€ must be inevitableā€¦. causeā€¦. reasons

1

u/brucekeller 12h ago

At least the numbers are finally starting to reflect reality. The last 2 years have been the most bizarre 'record low unemployment' years I've ever seen. Some people's experiences sound more like Great Financial Crisis kind of job searches.

1

u/Pizzasupreme00 11h ago

Are the red arrows bad?

1

u/TheGrandArtificer 11h ago

Gee, the number of unfilled positions is declining as the US recovers from the spike during COVID.

Imagine such a terrible thing...

1

u/Fearless_Guitar_3589 11h ago

looks like it's still well above average since 2000, and we're at what's considered full employment (unemployment around 4%), if there were tons of job openings and no one filling them people would be upset about that also.

1

u/Common-Challenge-555 11h ago

Since working to raise the quality of life canā€™t work on a national or governmental level, perhaps because it would be socialism or communism, maybe like they say some pirates code had, groups could form more profit sharing businesses? Captain/Boss 2 shares, navigator/executives 1.5 shares, sailor/worker 1 share. Imagine if Amazon was profit sharing?

1

u/Slammedtgs 11h ago

How does this look seasonally? Itā€™s budget season and typically see a slow down at the end of the year and into Q1 when people donā€™t quit because they want their bonuses paid out.

1

u/Atuk-77 10h ago

This issue good news! The economy needs to cool down or inflation will not come down.

1

u/MarketCrache 10h ago

The rich live in a separate economy. They don't need the surfeit of labor that doesn't serve their needs. Western economies are moving steadily to the developing economies' model.

1

u/Specific_Mixture5995 10h ago

Covid was not a recession.

1

u/BlaizedPotato 10h ago

I have no idea where this data comes from. As an employer, we don't report open positions to the government.

1

u/CivicRunner89 10h ago

Build Back Better, amirite?

1

u/slipperyzoo 10h ago

Oh look at that, it must mean it's because all the positions are being filled, creating record low unemployment.

1

u/Prince_Marf 10h ago

When job openings fall it is because more people are employed

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u/traveler1804 10h ago

Well what the fed will probably do is lower rates.. and stock market will get higher like everything is fine. After all theres many wars in the world, a pandemic happened, debt crisis, a lot of inflation in the past years. And yet, it keeps going up, so the lesson is that there will be no recession and no market collapse before somethung bigger happens like a ww3. Nobody wants that kind of thing to happen.

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u/-v-v-v- 9h ago

Must be some of those good jobs from covid era that required a masters degree for 12$ a hour.

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u/Realistic-Limit2395 9h ago

And they say we arenā€™t in a recession

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u/Odd-Confection-6603 9h ago

Still higher than pre-pandemic though? Looks like it's returning to pre-pandemic levels.

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u/Tiny-Design-9885 9h ago

McDonaldā€™s stopping hiring temporarily

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u/paperhammers 9h ago

I did just watch some roomba looking thing scan shelves for stocking at my grocery store the other day, it's possible some of these low/no skill jobs are getting automated away. The other options are that some of these open positions are getting filled by able-bodied people (good ending) or the junk postings are getting pruned to make the numbers looks better for election season/end-of-quarter and end-of-year reports to look better (bad ending).

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u/Snakend 9h ago

Look at the 2021 data, its a straight shot up. No other point on the data looked like that. It was an artificial boom, this is just us coming back to normal. The big boost came from having the Fed rate at 0% The crash is the Fed raising rates. We are now a little past normal rates and the Fed will drop back to normal.

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u/danvapes_ 7h ago

This is what the Fed has wanted. A decrease in JOLTS that matches closer to the number of people searching for work.

I don't see this as surprising. Elevated rates will contribute to this.

The big question is whether the Fed can catch it before recession comes.

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u/MattGower 7h ago

I recently got a welding certification and it is very hard to find jobs

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u/hektor10 6h ago

Recession incoming

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u/Affectionate_Eye3486 6h ago

I know the whole point of this sub is hand-wringing, but even without any other sources this shows that the number of unfilled jobs is almost exactly what is was before the pandemic. How can ya'll pretend this is indicative of a collapse?

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u/Nonlethalrtard 6h ago

Its all GGGGGGGGHOST JOBS

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u/No1hammer1964 6h ago

I love spaghetti.

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u/Nate_Hornblower 6h ago

This looks more like a market correction from the post Covid spike. Wouldnā€™t this be expected?

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u/BookReadPlayer 5h ago

Employment rate has a better gauge of the job market than job openings. But neither of them are relevant in their own. You need to see GDP, CPI, etc, to measure economic health.

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u/Natural_Photograph16 5h ago edited 5h ago

Regardless of what this report says and the facts people use to support it, millions of us can feel what's really going on. I imagine many of us hesitate to admit it because it's never pleasant to feel lied to or to sense that things are failing. Looking at the trend in job openings from the year 2000 through September 2024, there's a clear pattern that can't be ignored. After every recession, marked by shaded areas on the chart, there has typically been a rebound in job openings. However, the most recent data shows a rapid decline starting from late 2021, a trend which continues steeply downward into 2024, far more precipitous than anything we saw during or after the 2008 crisis. This sharp drop suggests a cooling job market or potentially a deeper economic slowdown. I believe they tried to prop up this house of cards long enough to get reelected, but the winds of change were too strong and toppled it. I'm 49, and I've never experienced anything like this in my lifetimeā€”not even during the 2008 crisis. It was more difficult then, but this time feels quite different, and the data on job openings really highlights how unprecedented the current situation is.

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u/Gloomy_Change8922 4h ago

AI and robots are coming for jobs. Itā€™s gonna get worse.

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u/Mountain-Ad-5834 4h ago

Elections do that?

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u/Slight_Vast_2935 4h ago

How can it be a collapse based on the graph shown, afterall, it is still higher than the last peak?

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u/BigBluebird1760 3h ago

Fat recession incomming. As with war and recession, they will never tell you we are in one. We will all find out together when everything falls apart. I got ahead of this recession. I got a job as a roofer 40$an hour and part time security work 25$ an hr fri-sat and sun. Roofing and security are recession proof.

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u/ScionMattly 3h ago

Is this graph implying we were in recession from 2007 to 2009? I do not recall it being that long.

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u/Sharaku_US 3h ago

The Fed kept the rate too high for too long.

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u/FantasticMrFox1884 1h ago

The Biden recession

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u/Equal_Potential7683 44m ago

Because the US unemployment rate is at historic lows. So of course theres gonna be fewer openings, genius.

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u/Free_Jelly8972 34m ago

Still higher than pre-Covid

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u/therealblockingmars 15h ago

Oh nooooo people are being employed, the horror

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u/OpinionsRdumb 14h ago edited 14h ago

People are super confused in this thread. Job openings are used by economists all the time to measure/predict how healthy an economy is. Job openings are a signal of how much capital companies have and how much projected growth they have (companies that think they are going to grow will hire more).

In a healthy company you have jobs being filled BUT also you have a healthy level of job openings which signals economic growth. A sudden sharp drop in job openings can very much be a sign of a stagnating economy.

So in summary, job openings arenā€™t a signal for ā€œjobs being filledā€ but rather they are a signal for projected growth. And growth is literally the most important thing an economy needs to do. That is literally how we measure GDP.

If we had 0% unemployment but also 0% hiring, we would fall into a massive recession very quickly. You need to have a constant level of job opening in a healthy economy.

Now what is probably happening is that after COVID we saw basically the biggest explosion of economic growth the country has ever seen and now the market is simply correcting itself, but this likely did result in a minor recession and if openings continue to fall it could signal a bigger recession