Source: Economics Group of Wells Fargo Bank, N.A.
The July JOLTS report shows that the labor market is barely tip-toeing back toward a balanced state that will help relieve current inflation pressures. While openings have fallen since March, job vacancies rebounded to 11.2M in July. A lower level of quits suggest the labor market is entering a more settled stage from the turmoil brought by the pandemic, but voluntary departures remain well-above prior cycle highs and layoffs illustrate businesses continue to hold on tightly to workers. READ FULL ARTICLE>>