AFMC - This Labor Market Is Still Tight Just Not As Crazy-Tight As It Was
2024-06-05 04:10:00 ET
Summary
- Layoffs and discharges fell for the second month in a row, to 1.51 million in April, seasonally adjusted, the lowest since December 2022 during the labor shortages, and down substantially from the pre-pandemic range.
- Layoffs and discharges fell to 0.96% of total nonfarm employment in April, the lowest since November 2022.
- Hires ticked up to 5.64 million in April and have remained roughly in the same range since November, and in the range of 2018 and 2019.
Layoffs & Discharges drop further, and are far lower than before the pandemic, as employers cling to their workers. ...
This Labor Market Is Still Tight, Just Not As Crazy-Tight As It Was