Unemployment spikes as recessions begin, but before that, early warning signs are fewer job openings and a shorter work week. The latest December jobs report showed spreading cyclical weakness.
Year over year, Indeed job postings fell 15% in 2023. See Finding a New Job is Getting Harder.
Under the hood, postings for lower-paying positions increased while higher-paying openings in leading sectors like finance and software development decreased.
Economist Liz Ann Sonders offers a good overview in her latest update.
Liz Ann Sonders shares her perspective on the U.S. stock market and economy in this monthly Market Snapshot video.