Job Openings Drop But Layoffs Rise, Signaling Economic Slowdown
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Job openings have declined 17% since last year but are still historically high at 8.7 million in October 2023.
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Continued unemployment claims are up over 15% compared to last year, returning to pre-pandemic levels.
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Monthly job gains have slowed to around 230,000 in 2023, down from nearly 400,000 per month in 2022.
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Major companies like Amazon and Meta have announced thousands of layoffs this year.
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There's been an average of 1.6 million layoffs per month in 2023, 10% less than the 2015-2019 monthly average.