U.S. job openings decrease 1.6 percent in November; hires advance 1.1 percent

The Job Openings and Labor Turnover Survey (JOLTS) published by the Labor Department on Wednesday revealed a 1.6 percent m-o-m decrease in the U.S. job openings in November after a revised 2.1 percent m-o-m gain in October (originally a 2.4 percent m-o-m advance).

According to the report, employers posted 6.527 million job openings in November compared to the October figure of 6.632 million (revised from 6.652 million in the original estimate) and economists’ expectations of 6.400 million. The job openings rate was 4.4 percent in November, down from an unrevised 4.5 percent in the prior month. The report showed that the number of job openings fell in durable goods manufacturing (-48,000), information (-45,000), and educational services (-21,000).

Meanwhile, the number of hires rose 1.1 percent m-o-m to 5.979 million in November from a revised 5.912 million in October. The hiring rate was 4.2 percent in November, unchanged from a revised 4.2 percent in October. Hires rose in professional and business services (+175,000) and mining and logging (+13,000), but these gains were partially offset by declines in accommodation and food services (-73,000), other services (-67,000), and information (-43,000).

The separation rate in November was 5.413 million or 3.8 percent, compared to 5.142 million or 3.6 percent in October. Within separations, the quits rate was 2.2 percent (flat m-o-m), and the layoffs rate was 1.4 percent (+0.2 pp m-o-m).