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BLS: Job Openings "Little Changed" at 10.5 million in November


by Calculated Risk on 1/04/2023 10:24:00 AM

From the BLS: Job Openings and Labor Turnover Summary

The number of job openings was little changed at 10.5 million on the last business day of November, the
U.S. Bureau of Labor Statistics reported today. Over the month, the number of hires and total
separations changed little at 6.1 million and 5.9 million, respectively. Within separations, quits
(4.2 million) and layoffs and discharges (1.4 million) changed little.
emphasis added

The following graph shows job openings (black line), hires (dark blue), Layoff, Discharges and other (red column), and Quits (light blue column) from the JOLTS.

This series started in December 2000.

Note: The difference between JOLTS hires and separations is similar to the CES (payroll survey) net jobs headline numbers. This report is for November the employment report this Friday will be for December.

Click on graph for larger image.

Note that hires (dark blue) and total separations (red and light blue columns stacked) are usually pretty close each month. This is a measure of labor market turnover. When the blue line is above the two stacked columns, the economy is adding net jobs – when it is below the columns, the economy is losing jobs.

The spike in layoffs and discharges in March 2020 is labeled, but off the chart to better show the usual data.

Jobs openings decreased in November to 10.458 million from 10.512 million in October.

The number of job openings (black) were down 4% year-over-year.

Quits were down 7% year-over-year. These are voluntary separations. (See light blue columns at bottom of graph for trend for “quits”).

ISM(R) Manufacturing index Declined to 48.4% in December, Price Index Lowest Since April 2020

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