Job Openings and Labor Turnover Survey: Layoffs rate hits historic low while hires and quits declined
Below, EPI senior economist Elise Gould offers her initial insights on today’s release of the Job Openings and Labor Turnover Survey (JOLTS) for December. Read the full Twitter thread here.
Job openings level and rate were essentially unchanged between November and December. Notably job openings increased in accommodations and food services as well as state and local government education, two sectors still suffering some of the largest job shortfalls since Feb 2020. pic.twitter.com/llAG8eNfsj
— Elise Gould (@eliselgould) February 1, 2022
While hires and quits both fell with the rise in Omicron in Dec, the hires rate remains higher than the quits rate in every major industry. This indicates that when workers quit, they are taking other jobs-likely in the same sector-not dropping out of the labor force altogether. pic.twitter.com/BktD2leflN
— Elise Gould (@eliselgould) February 1, 2022
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