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Frog in a Pot

Unemployment rate calm, for now

October 12, 2022 - 00:00
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Job openings fell another 1.1 million in August to 10.1 million according to the latest data from the Bureau of Labor Statistics. Generally, in a recession once jobs openings in the household survey collapse, the unemployment rate will tend to rise as well over time, usually after job openings drop by more than 20 percent in the JOLT survey on an annual basis, as in the 2001 and 2008-2009 recessions.So far, the collapse of openings totals 1.8 million since March 2022, a 15 percent drop, signaling a downturn in labor markets is indeed on the horizon. From a year ago,

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