Wednesday, January 3, 2024: JOLTS Report – Job Openings Decreased by 62k in November, Rate Unchanged at 5.3%
The number of job openings in November was 8,790,000 – a decrease of 62,000 from October’s adjusted figure of 8,852,000 – the U.S. Bureau of Labor Statistics (BLS) stated in its Job Openings and Labor Turnover Survey (JOLTS) Report for November 2023. The job openings rate remained steady at 5.3 percent.
In November, job openings decreased in transportation, warehousing, and utilities (-128,000) and in the federal government (-58,000). Job openings increased in wholesale trade (+63,000).
Hires, Total Separations, Quits, Layoffs/Discharges & Other Separations All Down
The number of hires in November was 5,465,000 compared to the adjusted 5,828,000 number for October (-363,000). The rate decreased to 3.5 percent, compared to the adjusted 3.7 percent rate in October. The number of hires decreased in professional and business services (-163,000).
Total separations were 5,340,000 for November, compared to 5,632,000 for October (-292,000). The November rate was 3.4 percent, down a bit from 3.6 percent in October. Over the month, the number of total separations decreased in professional and business services (-158,000) and in educational services (-28,000).
Within separations, quits in November were 3,471,000, down from 3,628,000 in October (- 157,000). The November rate was 2.2 percent, a slight decrease from 2.3 percent in October. The number of quits decreased in professional and business services (-77,000) and in educational services (-23,000).
Layoffs and discharges in November were 1,527,000, down from 1,643,000 in October (-116,000). The November rate held steady at 1.0 percent. The number of layoffs and discharges decreased in durable goods manufacturing (-18,000).
The number of other separations was 342,000 in November, down from 361,000 in October (-19,000). The percentage rate remained steady at 0.2.
BLS posted interactive graphs here.
Three-Month Comparison Chart of Job Openings vs. Jobs Filled
Our below table reports the number of available jobs (as taken from the revised JOLTS reports) from the last four months of available data, as revised.
*July Job Openings were 8,920,000
Note: BLS is scheduled to release the JOLTS Report for December 2023 on Tuesday, January 30, 2024.