Labor market near-stall entering 2026, says Revelio Lab's Sohn
Speakers
Evan Sohn
— Managing Director, Revelio Labs
Summary
Revelio Labs' Evan Sohn joins CNBC's The Exchange to discuss November JOLTS data and a labor market that is largely frozen, with low hiring, firing, and quitting. He notes salaries are ticking down and workers feel trapped because they are comfortable with current pay, while job postings are down overall. His data shows 71,000 jobs added last month, the first hiring increase in a while, but only information technology and biotech/health support saw year-over-year growth. He also highlights that over 40% of job postings now mention AI, underscoring the tech transformation in labor demand.
- November JOLTS data show low hiring, low firing, and low quitting.
- Workers feel trapped as salary satisfaction reduces incentive to leave.
- Revelio data shows 71,000 jobs added last month, first hiring increase in a while.
- Only IT and biotech/health support had year-over-year hiring growth; most other industries declined.
- Over 40% of job postings now mention AI, reflecting tech transformation.
- Guest says a decent but not too hot or too cold jobs report is desirable for markets and Fed policy.
Ideas
Only IT, biotech/health saw hiring growth.
Revelio Labs data shows that information technology and biotech/health support were the only industries with year-over-year hiring growth, while every other industry declined. This makes those sectors the relative labor-market winners and worth monitoring for continued fundamental strength.
