Job Openings and Labor Turnover Survey: Job openings declined in October
Below, EPI senior economist Elise Gould offers her initial insights on today’s release of the Job Openings and Labor Turnover Survey (JOLTS) for October. Read the full Twitter thread here.
While churn remains high, total separations held steady in October as hires softened slightly. Layoffs increased slightly as quits decreased a bit. On the whole, these labor market metrics exhibited very small changes from September. pic.twitter.com/XDZo45f8Sq
— Elise Gould (@eliselgould) November 30, 2022
Although the quits rate remains above historic benchmarks, it’s been coming down for months. Hiring continues to outpace quits in every major sector as workers seek and find new jobs. pic.twitter.com/WLAPd8bC0v
— Elise Gould (@eliselgould) November 30, 2022
The downward trend in job openings is the most notable feature in today’s report (especially in the private sector). It’s also important to put the latest numbers in perspective to demonstrate how peak levels in this pandemic business cycle have moderated considerably this year. pic.twitter.com/C7OEzd8FoL
— Elise Gould (@eliselgould) November 30, 2022
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