Just now, while monitoring the data and market reactions, I realized something was not quite right.
       
On the surface, the number of job vacancies was exploding, but both the stock index and treasury bond recovered quickly, as if nothing had happened.
       
So I went directly to the official website to look through the original press release and discovered many secrets.
       
Now it is actually a low liquidity labor market with value but no market.
       
1. Three data points are in a fight, with a high vacancy of 7.67 million, a low actual recruitment of 5.15 million, and a low turnover of 2.9 million.
       
2. Job vacancies often represent strong demand from enterprises; A low number of recruits indicates either inability to recruit or hesitation in hiring; The low number of resignations indicates that employees' sense of security is declining and they are afraid to switch jobs casually.
       
3. Based on the above two points, companies are actually hoarding employees rather than expanding, and they dare not lay off employees or expand enrollment arbitrarily; It's not easy for employees to find new jobs if they don't dare to switch jobs, because new jobs either have high requirements or low quality; The entire labor market is somewhat frozen and unhealthy.
       
There are vacancies+no recruitment+no resignation, which explains why today's market response is so flat, and in fact, the economy has not shown signs of overheating.

Just now, while monitoring the data and market reactions, I realized something was not quite right.
       
On the surface, the number of job vacancies was exploding, but both the stock index and treasury bond recovered quickly, as if nothing had happened.
       
So I went directly to the official website to look through the original press release and discovered many secrets.
       
Now it is actually a low liquidity labor market with value but no market.
       
1. Three data points are in a fight, with a high vacancy of 7.67 million, a low actual recruitment of 5.15 million, and a low turnover of 2.9 million.
       
2. Job vacancies often represent strong demand from enterprises; A low number of recruits indicates either inability to recruit or hesitation in hiring; The low number of resignations indicates that employees' sense of security is declining and they are afraid to switch jobs casually.
       
3. Based on the above two points, companies are actually hoarding employees rather than expanding, and they dare not lay off employees or expand enrollment arbitrarily; It's not easy for employees to find new jobs if they don't dare to switch jobs, because new jobs either have high requirements or low quality; The entire labor market is somewhat frozen and unhealthy.
       
There are vacancies+no recruitment+no resignation, which explains why today's market response is so flat, and in fact, the economy has not shown signs of overheating.