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- U.S. job openings increase 2.4 percent in January; hires decline 2.0 percent
U.S. job openings increase 2.4 percent in January; hires decline 2.0 percent
U.S. job
openings increase 2.4 percent in January; hires decline 2.0 percent
The Job
Openings and Labor Turnover Survey (JOLTS) published by the Labor Department on
Thursday revealed a 2.4 percent m-o-m gain in the U.S. job openings in January
2021 after a revised 0.2 percent m-o-m decrease in December 2020 (originally a 1.1
percent m-o-m advance).
According to
the report, employers posted 6.917 million job openings in January compared to
the December figure of 6.752 million (revised from 6.646 million in the
original estimate) and economists’ expectations of 6.600 million. The job openings
rate was 4.6 percent in January, up from an unrevised 4.5 percent in the prior
month. The report showed that the number of job openings increased in state and
local government education (+56,000), educational services (+21,000), and
mining and logging (+10,000).
Meanwhile, the
number of hires fell 2.0 percent m-o-m to 5.301 million in January from a
revised 5.411 million in December. The hiring rate was 3.7 percent in January, down
from a revised 3.8 percent in the prior month. Hires decreased in federal
government (-15,000), but rose in arts, entertainment, and recreation (+59,000)
and in educational services (+25,000).
The separation
rate in January was 5.307 million or 3.7 percent, compared to 5.582 million or
3.9 percent in December. Within separations, the quits rate was 2.3 percent (-0.1
p.p. m-o-m), and the layoffs rate was 1.2 percent (-0.1 pp m-o-m).
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