{"id":111958,"date":"2021-02-09T16:25:11","date_gmt":"2021-02-09T16:25:11","guid":{"rendered":"https:\/\/precoinnews.com\/?p=111958"},"modified":"2021-02-09T16:25:11","modified_gmt":"2021-02-09T16:25:11","slug":"job-openings-increased-toward-the-end-of-2020-but-a-big-employment-gap-remains","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/job-openings-increased-toward-the-end-of-2020-but-a-big-employment-gap-remains\/","title":{"rendered":"Job openings increased toward the end of 2020, but a big employment gap remains"},"content":{"rendered":"<ul>\n<li>Job openings increased to 6.65 million in December, slightly ahead of the FactSet estimate of 6.6 million.<\/li>\n<li>The hospitality industry saw both a sharp drop in openings and hiring, as well as an increase in layoffs.<\/li>\n<li>Though vacancies continue to rise, they remain below the pre-pandemic level of just over 7 million.<\/li>\n<\/ul>\n<p>Employers added slightly more job posts late last year, but hiring slipped as the labor market ended 2020 on an uncertain note, the Labor Department reported Tuesday.<\/p>\n<p>Total openings increased to 6.65 million in December, better than the 6.6 million estimate from FactSet.<\/p>\n<p>That still left a gap of some 4.1 million workers who remained unemployed, many of whom were still displaced by the Covid-19 pandemic.<\/p>\n<p>Though job postings continue to gain, they remain below the pre-pandemic level of just over 7 million in February 2020.<\/p>\n<p>Vacancies rose by nearly 300,000 in professional and business services, which saw its openings rate swell from 5.6% to 6.9%. <\/p>\n<p>Available positions fell in leisure and hospitality, which dropped by 127,000 to 761,000 for the month, which saw the openings rate slide from 6.2% to 5.5%,<\/p>\n<p>Hiring fell sharply for the month, down nearly 400,000 to 5.54 million, according to the Job Openings and Labor Turnover Survey, a report closely watched by policymakers for clues about slack in the labor market.<\/p>\n<p>Most of the hiring decline came in the hospitality industry, which saw a drop of more than 300,000 to 777,000. Within that group, arts, entertainment and recreation accounted for a decline of 82,000 as the hiring rate tumbled from 7.8% in November to 3.5%. <\/p>\n<p>Hospitality, which includes hotels, restaurants, bars and casinos, saw a layoff increase of 63,000, or 3.9%, up from 3.2% in the previous month.<\/p>\n<p>Overall, nonfarm payrolls were off 227,000 for December. January saw a rebound of 49,000, but more than 10 million remain unemployed, up 4.4 million from the pre-pandemic level. <\/p>\n<p>JOLTS data runs a month behind the payrolls count. January&#x27;s unemployment rate slid to 6.3%, but that came amid a sharp decline in the labor force.<\/p>\n<p>The quits level, a gauge of worker confidence, rose slightly as 3.29 million workers left their jobs, an increase of 106,000 for the month.<\/p>\n<p>Total separations declined slightly to 5.46 million.<\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/02\/09\/job-openings-increased-toward-the-end-of-2020-but-a-big-employment-gap-remains.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Job openings increased to 6.65 million in<\/p>\n","protected":false},"author":3,"featured_media":111957,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Job openings increased toward the end of 2020, but a big employment gap remains - 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