US job openings rise unexpectedly to 8.1 million in November, hiring falls

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US job openings rise unexpectedly to 8.1 million in November, hiring falls - Business Standard

Quick Summary:

US job openings rose unexpectedly in November, showing companies are still looking for workers even as the labour market has cooled overall.Openings rose to 8.1 million in November from 7.8 million in October, the Labour Department reported Tuesday.They were down from 8.9 million a year earlier and a peak of 12.2 million in March 2022 as the economy was roaring back from COVID-19 lockdowns.

Layoffs rose slightly in November, and the number of people quitting their jobs fell, suggesting that Americans are less confident in their ability to find better jobs elsewhere.

Employers added 1,80,000 jobs a month in 2024 through November, not bad but down from 2,51,000 in 2023; 3,77,000 in 2022, and a record 6,04,000 in 2021.