Job Opening Unexpectedly Rebound Over 9 Million Even As Number Of Workers Quitting Their Job Plummets

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by Tyler Durden
Tuesday, Jan 30, 2024 - 03:43 PM

After declines in job openings accelerated in the latter months of 2023, prompting economists to pat themselves on the back for predicting a soft landing and validating their expectations for Fed rate cuts, moments ago the BLS came out and spoiled the big picture when - instead of doing the market's bidding it confirmed that it responds first and foremost to the Biden admin's political demands - it reported that in December job openings unexpectedly rose, raising the specter of a hard landing (how can the Fed cut rates when job openings are once again rising).

According to the Biden's Labor Department, in December the number of job openings unexpectedly rose 101K in December to 9.026MM from an upward revised 8.925MM, meaning that the November print was not the lowest in three years as reported last month but was actually an improvement from October.