New jobs

People are wondering why the economy is slowing down and there are almost 500,000 new hires each month. How can all of these new jobs be created when the labor participation rate keeps going down, a trend that started 20 years ago. The answer is. Roughly 47 million people quit their jobs last year: During the pandemic many people retired and they have not been replaced. In December, roughly 6.3 million people were hired into new jobs, out of a total of 10.9 million job openings, leaving 4.6 million roles unfilled.  When a person quits a job and then is hired into a new job they add to the stats of new hires.