The job vacancy rate in the financial and insurance sector has fallen to 1.9%, a ten-year low.

The Kobeissi Letter, in an article published on the X platform, stated that job openings in the finance and insurance sector fell by 117,000 to 134,000 in December, the lowest level since February 2012. The total number of vacancies in the industry has decreased by 410,000 from its peak in 2022, a drop of 75%. The vacancy rate fell 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 2009-2010 low. This decline is even greater than the largest monthly drop of 125,000 during the 2008 financial crisis. The financial industry is facing further layoffs.