The number of job openings rose to 7.74 million (4.6 percent) in January, from a downwardly revised 7.51 million (4.5 percent) in December and compared to the expectation of 7.5 million in the Econoday survey of forecasters. Job openings are down by 728,000 compared to a year ago.

January hires were 5.393 million (3.4 percent), after 5.374 million (3.4 percent) in December, and were down by 179,000 compared to January 2024.

The data confirms the softer labor market trend that began in the second half of 2024, but not enough to add to fears of an imminent recession.

The number of total separations was 5.252 million (3.3 percent) in January, vs 5.082 million (3.2 percent) in December. Within separations, quits were at 3.266 million (2.1 percent) after 3.095 million (1.9 percent) in December, while layoffs and discharges came in at 1.635 million (1.0 percent) following 1.669 million (1.1 percent) in December.

Job openings dropped unexpectedly to 7.6 million in December from 8.16 million in November and the consensus looks for another decline to 7.5 million in January as the labor market cools.

The Labor Department's JOLTS report tracks monthly change in job openings and offers rates on hiring and quits. The reporting period lags other employment data including the employment situation report. The word JOLTS stands for Job Openings and Labor Turnover Survey.

Although lagging the release timing of the employment situation report by a month, JOLTS provides additional information on the labor market. The payroll survey in the employment situation report provides numbers on net job changes. JOLTS breaks down labor market data into pre-net changes such as job openings, hires, and separations.