The vacancy rate for finance and insurance positions drops to 1.9%, a ten-year low

Odaily Planet Daily reports that The Kobeissi Letter stated on the X platform that financial and insurance job vacancies in December decreased by 117,000 to 134,000, the lowest since February 2012. The total industry vacancies have fallen by 410,000 from the 2022 peak, a 75% decline. The vacancy rate dropped to 1.9%, meaning fewer than 2 out of every 100 positions are vacant, the lowest since February 2010 and the lowest this century excluding the lows of 2009-2010. Compared to the largest single-month decline of 125,000 during the 2008 financial crisis, this decline is even greater. The financial industry is facing further layoffs.