US Job Openings and Labor Turnover Summary for November

On Wednesday (1-3-24), the US Bureau of Labor Statistics (BLS) released the results of its Job Openings and Labor Turnover Survey (JOLTS) for November. According to the JOLTS report, as of the last business day in November, the number of job openings changed little at 8.8 million. The BLS notes that this measure is down from a series high of 12.0 million March 2022. The job openings rate was unchanged at 5.3%.

In November, the number of hires declined to 5.5 million—a decrease of 363,000—and the hires rate was little changed at 3.5%. The number of hires decreased in professional and business services.

The total number of separations decreased to 5.3 million, down 292,000. The rate was little changed at 3.4%.

• The number of quits edged lower to 3.5 million, a decline of 157,000. The rate was little changed at 2.2%.
• The number and rate of layoffs and discharges changed little at 1.5 million, while the rate held steady at 1.0%.
• The number of other separations was little changed at 342,000.

The job openings, hires, and total separation rates changed little for establishments with 1 to 9 employees. The quits and total separations rate increased for establishments with 5,000 employees or more.