US job openings decline more than expected in November

The number of job openings was little changed at 7.1 million in November, the U.S. Bureau of Labor Statistics reported today. Over the month, hires were little changed and total separations were unchanged at 5.1 million each. Within separations, both quits (3.2 million) and layoffs and discharges (1.7 million) were little changed. This release includes estimates of the number and rate of job openings, hires, and separations for the total nonfarm sector, by industry, and by establishment size class. Job openings include all positions that are open on the last business day of the month. Hires and separations include all changes to the payroll during the entire month. Job Openings The number of job openings was little changed at 7.1 million in November but was down by 885,000 over the year. The job openings rate, at 4.3 percent, changed little over the month. The number of job openings decreased in accommodation and food services (-148,000); transportation, warehousing, and utilities (-108,000); and wholesale trade (-63,000). Job openings increased in construction (+90,000). (See table 1.) Hires In November, the number and rate of hires were little changed at 5.1 million and 3.2 percent, respectively. The number of hires decreased in state and local government, excluding education (-39,000) and in state and local government education (-31,000). Hires increased in federal government (+11,000). (See table 2.) Separations Total separations include quits, layoffs and discharges, and other separations. Quits are generally voluntary separations initiated by the employee. Therefore, the quits rate can serve as a measure of workers’ willingness or ability to leave jobs. Layoffs and discharges are involuntary separations initiated by the employer. Other separations include separations due to retirement, death, disability, and transfers to other locations of the same firm. In November, the number and rate of total separations were unchanged at 5.1 million and 3.2 percent, respectively. The number of total separations decreased in state and local government, excluding education (-27,000). (See table 3.) US JOLTS Job Openings Nov: 7.146M (est 7.648M; prev 7.670M; prevR 7.449M) - Job Openings Rate: 4.3% (prev 4.6%; prevR 4.5%) - Quits Level: 3.161M (est 2.995M; prev 2.941M; prevR 2.973M) - Quits Rate: 2.0% (prev 1.8%; prevR 1.9%) - Layoffs Level: 1.687M (est 1.816M; prev 1.854M;… US job openings at 7.1 million in November Job openings in the United States remained stable in November compared to October at 7.1 million, the US Bureau of Labor Statistics said in a report on Wednesday. Year-on-year, openings fell by 885,000. The biggest number of jobs was opened in construction at 90,000, while jobs declined in accommodation and food services, with 148,000 fewer positions, followed by transportation, warehousing, and utilities at 108,000 and wholesale trade at 63,000. Hires and separations stood at 5.1 million each, also largely unchanged from October. Layoffs were the highest in accommodation and food services at 107,000, health care and social assistance at 52,000 and state and local government, excluding education, at 26,000.

Job openings slipped to 7.1 million in November, reinforcing a picture of a labor market treading water. Both demand for workers and turnover remain muted. The hiring rate fell back to its cycle low of 3.2% in November, and, while the quit rate rose a tick from an upwardly revised reading in October, at 2.0%, the share of workers voluntarily departing their ...

TRUMP SAYS HE IS IMMEDIATELY TAKING STEPS TO BAN LARGE INSTITUTIONAL INVESTORS FROM BUYING MORE SINGLE-FAMILY HOMES TRUMP SAYS HE WILL ASK CONGRESS TO CODIFY THE BAN AND WILL DISCUSS IT ALONG WITH FURTHER HOUSING AND AFFORDABILITY PROPOSALS AT HIS DAVOS SPEECH IN TWO WEEKS For a very long time, buying and owning a home was considered the pinnacle of the American Dream. It was the reward for working hard, and doing the right thing, but now, because of the Record High Inflation caused by Joe Biden and the Democrats in Congress, that American Dream is increasingly out of reach for far too many people, especially younger Americans. It is for that reason, and much more, that I am immediately taking steps to ban large institutional investors from buying more single-family homes, and I will be calling on Congress to codify it. People live in homes, not corporations. I will discuss this topic, including further Housing and Affordability proposals, and more, at my speech in Davos in two weeks.