Labor Market Implodes: Job Openings Crater, Prior Data “Unexpectedly” Revised Sharply Lower

Zero Hedge | August 29, 2023

For months we have been warning that at a time when the US economy is careening into a hard landing recession, the manipulated, seasonally-adjusted, and politically goalseeked job openings data released as part of the DOL’s JOLTS report is sheer rubbish (see “US Job Openings Far Lower Than Reported By Department Of Labor“; “Handle The JOLTS Data With Care“, “Just Make it Up: Job Openings Unexpectedly Soar As Labor Department Now Guessing What The Number Is“). Today, the BLS finally got the memo.

With consensus expecting only a modest drop in the July job openings from 9.582 million to 9.5 million, what the BLS reported instead was a doozy: in July there were just 8.827 million job openingsthe first sub-9 million print since March  2021. It was also the 3rd biggest miss on record!

Worse, had the BLS not drastically slashed the May number from 9.582MM to a laughable 9.165MM, the drop would have been almost 800K job openings. And yes, today’s downward revision…


3 Comments on Labor Market Implodes: Job Openings Crater, Prior Data “Unexpectedly” Revised Sharply Lower

  1. Zero Hedge, like Twitter, Wikipedia etc. the dual citizen dollars penetrate most things. Although the subject matter might be accurate, the rest is usually skewed to protect AIPAC et al.

  2. I think the best nature of the previous commenter may be leading him astray. I definitely do not think anything is accurate when in service e to the PoZion and quite frankly I am sick of people using words in an untrue way. There is no lie to small or too big in the name of chaos and reporting on the internet should teach us about reality. Do I have a job? Did my friend just land a job? Did my neighbour just foreclose?

    I can tell you that Boone NC saw half the summer business than last year but no one is talking about job losses and this money is mostly from the rich so for all I know they went to Europe instead in 2023. Since being back in the US off and on since 2020 it’s very clear that rhe fortunes of corporate are dictated by the actions of Central monetary planners and I believe they run a tight ship based on real data they are privvy to. If theres a new covid jive there’ll be a payment which i think will happen obviously. Zerohedge has long been designed to cause disfunction in the collective neurological system and that is all

  3. #WEF, supported by #WEFpuppets in position of office, warned this was about to happen as they continue to collapse small businesses with plandemics and mega corps replace humans with AI/Machines/Robots.

    The collapse of the economy is by design to usher in the #NWO #GreatReset.

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