The post-pandemic job market is cooling off, with job openings dropping to 7.6 million in December from 8.1 million in November, the US Bureau of Labor Statistics reports. Indeed’s hiring lab economist Cory Stahle joins Wealth to explain the lighter-than-expected labor data. Hiring and quitting rates have both nearly reached decade-low levels, referred to by Stahle as "moving sideways," which "is a potential good sign moving forward that we might be at an inflection point here." Stahle also explains that wage growth is stabilizing in tandem with the stabilization of hiring and quitting rates. Similarly, Stahle says, "There’s also been signs … with unemployment staying stable, that things again may be at this point where they might be poised for a turnaround in the coming months." To watch more expert insights and analysis on the latest market action, check out more Wealth here.
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