US job openings inch higher as hiring, quitting rates drop amid broader labor slowdown

Published On Jan 7, 2025, 10:25 AM

The latest report on job openings in the U.S. shows an increase in available positions, rising to 8.1 million in November from 7.84 million in October. Despite this uptick, both hiring and quitting rates have declined. Hiring fell to 5.27 million from 5.39 million, and the quits rate dropped to 1.9%. These trends indicate a cooling labor market, prompting comments from Federal Reserve Chair Jerome Powell about a more relaxed job market compared to pre-pandemic levels. A broader update on job statistics is expected soon, with projections indicating a creation of 163,000 jobs in December, a decrease from November's 227,000 jobs.