Financial and Insurance Job Vacancy Rate Drops to 1.9%, Hitting a Decade Low

Odaily News: The Kobeissi Letter posted on platform X, stating that job vacancies in the finance and insurance sectors decreased by 117,000 to 134,000 in December, the lowest level since February 2012. The total number of vacancies in the industry has fallen by 410,000 from its 2022 peak, a decrease of 75%. The vacancy rate dropped to 1.9%, meaning fewer than 2 out of every 100 positions are vacant, marking the lowest level since February 2010 and, excluding the lows of 2009‑2010, the lowest this century. Compared to the largest single-month decline of 125,000 during the 2008 financial crisis, this decline is even more significant. The financial industry is facing further layoffs.