| Consensus | Consensus Range | Actual | Previous | Revised | |
|---|---|---|---|---|---|
| Job Openings | 7.65M | 7.60M to 7.73M | 7.15M | 7.670M | 7.45M |
Highlights
The November report on job openings and labor turnover (JOLTS) shows declines in job openings and hiring while job separations are up slightly due to larger numbers of job quits. Overall, the picture is one of a labor market with fewer new job and less payroll growth while those currently employed are not losing their jobs or are finding sufficient incentive to enter the job market.
The number of job openings is down 303,000 in November to 7.146 million. Private sector jobs are down 214,000, mostly from a drop of 160,000 in leisure and hospitality and 108,000 in transportation, warehousing, and utilities. There was a gain of 90,000 in construction. Government job openings are down 89,000, mainly from a decrease of 97,000 at the state and local levels. The job openings rate is down to 4.3 in December from 4.5 in October and is lower than 4.8 in November 2024.
The number of hires is down 253,000 in November to 5.115 million. Private sector hiring is down 195,000, and mainly reflects declines of 67,000 in education and healthcare, 35,000 in financial activities, 30,000 in transportation, warehousing, and utilities, and 26,000 in manufacturing. Some of this may be due to a lack of qualified workers in these fields. Government hires are down 58,000, mostly in state and local government with a 69,000 decrease. The hire rate is down to 3.2 in December from 3.4 in October, and 3.3 in November 2024.
Separations are up 11,000 to 5.080 million in November. Private sector separations are up 46,000 with 118,000 separations in leisure and hospitality largely off set by modest declines elsewhere including a decrease of 62,000 in education and health services. Government separations are up 35,000 and are mainly from 30,000 in state and local government. The separations rate is unchanged at 3.2 in November from October and November 2024.
The level of job quits a subset of separations is up 188,000 to 3.161 million in November. Private sector quits are up 199,000 and are concentrated in an increase of 211,000 in leisure and hospitality with small offsets from other industries. Quits in government are down 12,000 in November. The quits rate is 2.0 in November after 1.9 in October and in November 2024. Some of this may be movement in workers who are seeking better compensation.
Layoffs and discharges another subset of separations are down 163,000 to 1.687 million in November. Private layoffs are down 142,000 and are widespread with the largest at 91,000 in leisure and hospitality. Government layoffs are down 21,000, with a decline of 22,000 at the state and local levels. The layoff rate is 1.1 in November after 1.2 in October and the same as November 2024.
The number of job openings is down 303,000 in November to 7.146 million. Private sector jobs are down 214,000, mostly from a drop of 160,000 in leisure and hospitality and 108,000 in transportation, warehousing, and utilities. There was a gain of 90,000 in construction. Government job openings are down 89,000, mainly from a decrease of 97,000 at the state and local levels. The job openings rate is down to 4.3 in December from 4.5 in October and is lower than 4.8 in November 2024.
The number of hires is down 253,000 in November to 5.115 million. Private sector hiring is down 195,000, and mainly reflects declines of 67,000 in education and healthcare, 35,000 in financial activities, 30,000 in transportation, warehousing, and utilities, and 26,000 in manufacturing. Some of this may be due to a lack of qualified workers in these fields. Government hires are down 58,000, mostly in state and local government with a 69,000 decrease. The hire rate is down to 3.2 in December from 3.4 in October, and 3.3 in November 2024.
Separations are up 11,000 to 5.080 million in November. Private sector separations are up 46,000 with 118,000 separations in leisure and hospitality largely off set by modest declines elsewhere including a decrease of 62,000 in education and health services. Government separations are up 35,000 and are mainly from 30,000 in state and local government. The separations rate is unchanged at 3.2 in November from October and November 2024.
The level of job quits a subset of separations is up 188,000 to 3.161 million in November. Private sector quits are up 199,000 and are concentrated in an increase of 211,000 in leisure and hospitality with small offsets from other industries. Quits in government are down 12,000 in November. The quits rate is 2.0 in November after 1.9 in October and in November 2024. Some of this may be movement in workers who are seeking better compensation.
Layoffs and discharges another subset of separations are down 163,000 to 1.687 million in November. Private layoffs are down 142,000 and are widespread with the largest at 91,000 in leisure and hospitality. Government layoffs are down 21,000, with a decline of 22,000 at the state and local levels. The layoff rate is 1.1 in November after 1.2 in October and the same as November 2024.
Definition
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.
Description
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.
