Eric Morath
speaker
273 appearances
6 recordings
1 series
first heard Sep 2017
last heard Sep 2020
Eric Morath’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · Jobs Openings Have Leveled Off, But There's Still Hope · 10 Sep 2020
podcast
It means that there's not going to be as many new opportunities for workers.
And that's a big concern when the unemployment rate, while it's down from this spring, still above 8%.
And that's a historically high number.
Well, the number has improved a lot from where we were in the beginning of May, which was sort of the depths of the drop-off and job postings following the coronavirus and the economic shock.
It's still, though, I wouldn't say healthy.
We're about 20% below a year ago figures based on what Indeed.com shared with us of the postings on their website.
We're still quite a bit down from a year ago, and that's a concern when we have upwards of 10 million people still unemployed.
Six months ago, it was a much different story.
Job openings were near record highs, and the number of job openings outnumbered the number of people that were unemployed, meaning they didn't have a job, but they were actively seeking work.
Of course, that all changed quite dramatically in March and April when wide swaths of the U.S.
economy closed down due to the coronavirus pandemic.
We saw, according to Indeed again, job postings fall 33% between February and early May.
Then things started to pick up a bit.
You know, businesses reopened.
They had some additional need for labor.
And we saw postings climb back up to, you know, still more than 10% less than they were in February, which itself is kind of a low point of the year for hiring.
But, you know...
climbing back.
The concern is now that since the end of July, beginning part of August, it's kind of just flattened out.
And that means, you know, I guess it's better than the number falling again, but it shows that businesses, you know, don't have an increasing demand for labor.
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