Job openings down in most industries, while layoffs spike
Layoffs spiked in November compared with the previous month and the number of job openings slipped, a sign the job market has stalled as the resurgent coronavirus has forced new shutdowns of restaurants and bars and discouraged consumer spending. While the layoffs were concentrated among restaurants, bars and hotels, the slowdown in job postings was widespread across most industries, showing a reluctance by businesses to hire more people amid a pandemic fueled recession. Layoffs, however, soared 17.6% to 1.9 million, driven mostly by job cuts at restaurants, bars and hotels, which more than doubled. Tuesday’s report, known as the Job Openings and Labor Turnover Survey, or JOLTS, adds more details about hiring and firing by businesses and government agencies. Last week, job postings website Indeed said that while companies listed more jobs in December, the pace had slowed from previous months.
Pot industry posts the "Help Wanted" sign in Colorado
Pot industry posts the "Help Wanted" sign in Colorado The economy in Denver, Colorado, is experiencing a big boom since sales of recreational marijuana were first allowed in January. CBS News' Barry Petersen reports on the lightning-fast growth of the industry.cbsnews.com