Job openings across the U.S. fell to 7.1 million in November, according to the latest U.S. Bureau of Labor Statistics (BLS) Job Openings and Labor Turnover Summary (JOLTS) report.
The JOLTS report provides insights into the number of job openings, hires, quits, and layoffs, offering a detailed snapshot of labor demand in the U.S. The report falls a month behind the jobs report.
U.S. Employers Report 7.1 Million Job Openings in November
The overall number of job openings fell from 7.4 million in October to 7.1 million in November. The number of job openings for October had previously been reported as 7.7 million, but was revised down to 7.4 million.
Despite the overall number of job openings falling in November, growth was reported in key industries included:
- Retail trade (+121,000)
- Construction (+90,000)
- Professional and business services (+34,000)
- Finance and insurance (+21,000)
Industries reporting a decline in job openings in November included:
- Manufacturing (-11,000)
- Transportation, warehousing and utilities (-108,000)
- Accommodation and food services (-148,000)
- State and local government (-97,000)
Hiring Remains Flat in November
The number of hires fell from 5.4 million to 5.1 million in November, according to the latest JOLTS report. Hiring activity is down by about 200,000 jobs over the same time last year.
The industries that increased hiring in November included:
- Construction (+11,000)
- Information (+12,000)
- Private educational services (+8,000)
Industries that reported fewer hires in the month of November included:
- Transportation, warehousing and utilities (-30,000)
- Health care and social assistance (-76,000)
- Finance and insurance (-15,000)
Total separations, which include quits, layoffs, discharges, and other separations, increased marginally by 11,000 from October to November.
Quits, often regarded as a measure to watch in order to better understand employee confidence, increased from 3.0 million in October to 3.2 million in November. The quits rate ticked up to 2.0% in November after falling to its lowest point since 2020 in the previous month’s report.
Meanwhile, layoffs fell from 1.85 million in October to 1.69 million in November.
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Source: BLS
