Job openings fell by about 50,000 to 10.45 million in November 2022, according to the monthly JOLTS report released by the U.S. Bureau of Labor Statistics. While the labor gap is slowly contracting, openings are still historically high and outnumber unemployed workers by about 4.4 million.
About 4.2 million workers left their jobs in November, below the record 4.5 million recorded one year ago during what has been dubbed the “Great Resignation.” The number of people quitting is edging down, but workers continue to feel comfortable enough to switch jobs in pursuit of higher pay or better working conditions. Layoffs in November fell to 1.3 million, amid reports of job cutting from sectors impacted by higher interest rates.
On Friday, the Department of Labor will report on how many jobs the U.S. economy added in December, the unemployment rate and wage gains for the month.
