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December 5, 2023 3:01 pm
The U.S. Bureau of Labor Statistics released its October 2023 JOLTS (Job Opening And Labor Turnover) Report this morning. It is released two months after the fact, unlike the more widely followed BLS NFP Employment Report. The extra month of JOLTS preparation is used to develop more accurate data with fewer statistical assumptions.
Table A in the October 2023 JOLTS Report shows a seasonally adjusted drop of 236,000 Health Care And Social Assistance job openings from September 2023 to October 2023 - a 30 day period. This is a staggering reversal of job opening numbers which had been increasing relentlessly since the passage of Obamacare:
https://www.bls.gov/news.release/pdf/jolts.pdf
This drop in Health Care And Social Assistance job openings is confirmed by the not seasonally adjusted 104,000 drop in job openings reported in Table 8 of the same October 2023 JOLTS Report.
Are mergers and consolidations finally reducing the appetite of the health care industry for labor?
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