The number of job openings increased from the month before, with about 11 million openings in October, according to the Bureau of Labor Statistics Job Openings and Labor Turnover Survey.
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- Job openings increased by the largest margin in the accommodation and food services space, followed by nondurable goods manufacturing. Openings also increased in educational services.
- The news comes on the heels of a worse-than-anticipated jobs report. The Bureau of Labor Statistics said last week that the U.S. added just 210,000 new jobs in November, much fewer than the half-million that economists had predicted.
- Despite the meager gains, the unemployment rate ticked down slightly to 4.2%. The U.S. is still millions of jobs short of where it was prior to the COVID-19 pandemic when unemployment was at a record 3.5%.
- Some 4.2 million workers quit their jobs in October, down from a record of 4.4 million the month before.
- The previous all-time high represented the most people quitting since the United States began keeping records of the statistic about two decades ago and is equivalent to about 3% of the country’s labor force.
SOURCE: WASHINGTONEXAMINER
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