Job openings continued to trend down in December
Below, EPI senior economist Elise Gould offers her insights on today’s release of the Job Openings and Labor Turnover Survey (JOLTS) for December. Read the full thread here.
Job openings continued to trend down in December, but remain just above their pre-pandemic levels, according to the #NumbersDay read on #JOLTS for 2024. Job openings declined 1.3 million over the year, continuing their fall from the peak in March 2022 and are just about 7% higher than pre-pandemic.
— Elise Gould (@elisegould.bsky.social) February 4, 2025 at 9:15 AM
Job openings have trended back into the normal range for well over two years. Job openings clearly appear to be in line with pre-pandemic trends, along the trend line with the growing population.
#EconSky #NumbersDay— Elise Gould (@elisegould.bsky.social) February 4, 2025 at 9:18 AM
While mostly holding steady in December, labor market churn has come down through 2024. Workers are sitting tight, holding on to their jobs rather than optimistically looking for new ones. At the same time, hires have softened. But, layoffs remain low so no sign of imminent trouble.
— Elise Gould (@elisegould.bsky.social) February 4, 2025 at 9:26 AM
Even with the reduction in overall labor market churn over 2024, hires remain greater than quits in all sectors of the economy. #NumbersDay #EconSky
— Elise Gould (@elisegould.bsky.social) February 4, 2025 at 9:39 AM
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