Economist's Insights

Job Openings Dropped in November JOLTS Report

Jan 9, 2018

The BLS’s JOLTS report showed an unexpected tick down in the current number of openings to 5.879MM in November from a slightly stronger 5.925MM openings in October. After peaking at a 17-year series high in September, openings the number of openings has declined for two consecutive months. As a result, the openings rate fell to 3.8% from 3.9% in October; the openings rate had held at 4.0% for the four months ended in September. Other details of the report also experienced some softening. The number of hires slowed and while the hires rate lost 0.1% to 3.7%, it remained in line with its prior 12-month average. Quits also cooled but not enough to pull the quits rate off of its cyclical high.