Demand for workers in the U.S. remained historically elevated in November, with job openings holding near a record high amid the ongoing pandemic.
Vacancies totaled 10.6 million in November, according to the Labor Department’s Job Openings and Labor Turnover Summary (JOLTS) released Tuesday. This comes is slightly lower than the 11.1 million in October, based on the government’s revised print for the month. Consensus economists were looking for job openings to rise in November, according to Bloomberg data.
By industry, job openings declined most notably in accommodation and food services, with vacancies falling by 261,000 but remaining at a still-elevated 1.3 million in total. Construction and non-durable goods manufacturing employers also saw notable drops in job openings at 110,000 and 66,000, respectively.
Beneath the headline number, the quits rate came in at 3 percent, matching the record-high level last seen in September and suggesting an elevated number of individuals were voluntarily leaving their jobs. About 1.4 million people were laid off or fired in November, compared to 2 million people in the same month in 2020.
Click here to read the full report from Emily McCormick at Yahoo Finance.
