Job openings little changed in November while quits declined slightly
Below, EPI senior economist Elise Gould offers her insights on today’s release of the Job Openings and Labor Turnover Survey (JOLTS) for November. Read the full thread here.
Today is the first #NumbersDay of 2025 for those of us watching the labor market. The latest #JOLTS data shows much is “little changed” and “changed little” for November, expected given no surprises in the jobs data for that month as the labor market returned to strength after the dip in October.
— Elise Gould (@elisegould.bsky.social) January 7, 2025 at 9:16 AM
Job openings ticked up slightly in November but have trended back into the normal range for well over two years. Compared to its height in March 2022, job openings are down by about one-third. Job openings clearly appear in line with pre-pandemic trends along with the growing population.
#EconSky
— Elise Gould (@elisegould.bsky.social) January 7, 2025 at 9:23 AM
Hires and quits softened a bit. It’s not alarming but something to watch as both are just below pre-pandemic rates. Labor market churn often falls when workers don’t feel confident that they can quit and find a better job. Workers seem to be sitting tight for now. Layoffs remain low in November.
— Elise Gould (@elisegould.bsky.social) January 7, 2025 at 9:39 AM
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