Has the Job Market Cooled Off?
A couple of cracks have appeared in an otherwise healthy economy. The question is whether those cracks -- a declining number of job openings and lower median pay compared to last month -- will spread, or whether it's just a minor nuisance that's not indicative of bigger problems.
Job openings dropped by 3.1% January, according to Glassdoor's latest Job Market Report. That's the biggest decline in three years and the second straight month of year-over-year declines. Glassdoor Senior Economist Daniel Zhao offered some color on where the job market stands:
Pay growth accelerated in January, rising to 2.6% year-over-year from 2.3% in December. However, this acceleration is largely driven by a decrease in pay in the same period last year. When looking at pay on a month-over-month basis, pay has actually declined to $54,430 per year, down slightly from December levels. This suggests that the acceleration in pay growth is short-lived and will likely dissipate in coming months.
Source Fool.com
