HIRING DOWN, LAYOFFS UP ACROSS INDUSTRIES IN NOVEMBER

At November’s end, 1.6 percent fewer jobs were advertised than a year previous, the first slip since August, the U.S. Labor Department reported. At the same time, layoffs jumped 17.6 percent to 1.9 million, as layoffs in the lodging and hospitality industries more than doubled due to new restrictions on social mobility.
Layoffs have largely affected low-wage jobs.
However, job postings for the highest-paying third of positions have declined at a rate faster than that of lower-paid jobs, which are now declining at the slowest pace, online employment broker Indeed reported.
PUBLISHER’S NOTE: The shrinking number of job opportunities for higher-paid workers, compared with a more stable rate of offers for lower-wage workers, indicates that the shutdown’s economic ripple is now reaching the economy’s upper ranks. It also indicates that employers are uncertain enough about the future to not commit to new high-salaried employees.