U.S. job openings decrease in November

The Job Openings and Labor Turnover Survey (JOLTS) published by the Labor Department on Friday revealed a 7.6 percent m-o-m decline in the U.S. job openings in November after a 3.5 percent m-o-m drop in October.

According to the report, employers posted 6.800 million job openings in November, compared to the October figure of 7.361 million (revised from 7.267 million in original estimate) and economists' expectations of 7.233 million. The job openings rate was 4.3 percent in November, down from an unrevised 4.6 percent in the prior month. The report showed that the largest drops in job openings were in retail trade (-139,000 jobs) and construction (-112,000). The job openings level decreased for total private (-520,000) and edged down for government (-42,000).

Meanwhile, the number of hires rose by 0.7 percent m-o-m to 5.821 million in November from 5.782 in October. The hiring rate remained unchanged m-o-m at 3.8 percent. The hires level was little changed in all industries and regions.

The separation rate in November was 5.648 million or 3.7 percent, compared to 5.652 million or 3.7 percent in October. Within separations, the quits rate was 2.3 percent (flat m-o-m), and the layoffs rate was 1.1 percent (-0.1 pp m-o-m).