To say the least, the sequence of events since the release of the July jobs report has been absolutely insane. I am finally getting caught up on digging into things and will be publishing a series of posts over the next few days starting first with our jobs data in July (this post) followed by our commentary on the job market, our forecast looking forward a few months, and the firing of BLS Commissioner Erika McEntarfer.
In July, for the 4th consecutive month, labor demand in the U.S. declined from the prior month. U.S. Job openings indexed daily directly from employer websites dropped 1% from June and are down 11% year-over-year.