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December JOLTS: Slide in Openings Signals Labor Demand Remains Weak
From wellsfargo.bluematrix.com
The December JOLTS report underscored the labor market remains in a precarious position. Job openings fell to 6.5 million and are down around 10% over the past year. The ongoing slide suggests a turnaround in hiring conditions is not yet upon us. Turnover data also suggest labor market activity remains subdued. The hiring and quit rates remained near their lowest levels in roughly a decade in December, excluding the initial months of the pandemic. The low hiring environment and subdued rate of workers voluntarily leaving their jobs risks pushing layoffs higher. The layoff rate remained at 1.1% in December, but more ... (full story)
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The number of job openings continued to trend down to 6.5 million in December, the U.S. Bureau of Labor Statistics reported today. Over the month, both hires and total separations were little changed at 5.3 million each. Within separations, quits (3.2 million) were unchanged while layoffs and discharges (1.8 million) were little changed. This release ...
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