Fresno, CA – Stardom Employment Consultants is proud to announce the exciting results of the latest JOLTS (Job Openings and Labor Turnover Survey) report from the US Department of Labor. The report shows a surge in job openings to a five-month high of just over 11 million in December, with the largest increases coming in food services, retail trade, and construction. The ratio of openings to unemployed people rose to a near-record 1.9 in December, indicating a tight labor market and solid appetite for labor.
This report highlights the strength of the US labor market and the continued demand for top talent in the Executive Level, Accounting, Finance, HR, and IT roles that Stardom Employment Consultants specializes in filling. With over 11 million job openings, it is a great time for individuals looking to make a career change or companies looking to fill critical positions.
The JOLTS report showed a rise in the ratio of job openings to unemployed individuals, reaching a near-record high of 1.9 in December from 1.7 in the previous month. This elevated number of job openings is a reason why the Federal Reserve may be able to control the labor market and inflation without a surge in unemployment, according to Fed officials. This is an indication that employers are hiring more workers, and that the job market is becoming more competitive for job seekers. At the same time, the report also showed a slight increase in the number of people quitting their jobs, which is a sign that workers are feeling more confident about their ability to find new employment opportunities.
The number of available positions exceeded economists’ expectations and reflected a solid demand for labor. Job openings also increased in the retail trade and construction sectors, while decreasing in the information sector. Meanwhile, hiring increased in industries such as construction, retail trade, and healthcare, while layoffs also ticked up.
The “quits rate” is a key metric that tracks the number of employees who voluntarily leave their jobs as a share of total employment. In the latest JOLTS report, the quits rate remained steady at 2.7%, indicating that a significant number of employees are feeling confident in the job market and are choosing to pursue new opportunities….This is great news for the staffing industry and the job market as a whole.
Stardom is dedicated to staying up-to-date on the latest employment trends and news, and regularly provides analysis and commentary on the state of the job market. Today, the company’s CEO, Lorenzo Ramirez, commented on the release of the latest JOLTS (Job Openings and Labor Turnover Survey) report from the US Bureau of Labor Statistics…
“Today’s JOLTS report is a testament to the strength of the US job market. The steady quits rate indicates that employees are feeling confident in their ability to find new opportunities, which is a sign of a thriving job market. This is great news for job seekers, who are finding more opportunities to advance their careers and secure good-paying jobs. Stardom Employment Consultants takes pride in being a part of this dynamic job market, helping businesses find the right candidates and job seekers find their dream careers.”
“We expect to see continued growth and improvement in the job market throughout 2023 and beyond,” he said. “With the right combination of education, training, and job search strategies, job seekers can find great opportunities to advance their careers and secure the jobs of their dreams. And for employers, this is a great time to start looking for the talented workers they need to grow their businesses and succeed.”
Despite the current economic landscape, job seekers are continuing to search for new opportunities, as the prospect of higher pay outweighs the risks of recession and news of layoffs. The latest JOLTS report underscores the strong state of the US labor market and the continued demand for top talent in a variety of industries, including executive level positions, accounting, finance, HR, and IT.
In conclusion, the December JOLTS report highlights a tight labor market with two unfilled jobs per unemployed person. The US economy continues to show potential for growth!
Stardom Employment Consultants has a proven track record of matching top talent with top companies, and we are here to help you take the next step in your career or find the right candidate for your business. If you are interested in making a career change or need help filling a position, contact us anytime!
For further information, please contact: Stardom Employment Consultants info@stardomconsult.com (555) 446-5815
View The Full JOLTS Report Here: https://www.bls.gov/news.release/jolts.htm