US job vacancies fall to lowest level since 2020 in December

According to data from the US Bureau of Labor Statistics, the number of job vacancies in December decreased from the revised 6.93 million in November to 6.54 million, the lowest level since 2020 and lower than market expectations. The number of job vacancies in the professional and business services industry as well as the retail industry has decreased, while the scale of layoffs in the transportation and warehousing industry has expanded. Although the number of recruits has increased, it is still at a low level overall. The number of job vacancies per unemployed person in December was 0.9, lower than the 2:1 peak in 2022. The Federal Reserve believes that wage growth is not a source of inflationary pressure.