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JOLTS Job Openings Keep Up the Pace of Expansion

Posted Tuesday, January 12, 2021 by
Skerdian Meta • 1 min read

The US economy bounced strongly in Q3 after the lock-down crash in Q2 and unlike Europe which is headed into another recession, it has been keeping a strong pace of recovery.  The employment sector has been performing fairly well as well, with the unemployment rate falling below 7%, while JOLTS jobs have been exceeding expectations too.

In November they increased to 6.65 million, but was expected to cool off in December, as the ADP employment report showed last week. Although, JOLTS jobs beat expectations once again, keeping up the strong pace of recovery/expansion, showing that the US economy is performing really well.

 

November job openings data

  • November JOLTS job openings 6,527K vs 6,400K expected
  • October JOLTS job openings were 6,652K (revised to 6,632K)
  • Pace of hiring +4.2% vs. +4.1% last month
  • 3.156M people quit a job in November vs 3.150m prior.
  • The quitting rate remained unchanged at 2.2% vs 2.2% prior
  • Separations rate 3.8% vs. 3.6% in October
  • Layoffs and discharges 1.4%  vs. 1.2% in Oct
This paints a picture of a jobs market that slightly softened in November and we say that it’s the non-farm payrolls report for the month. Expect the slight weakness to continue in December and likely in January as well, but the US employment is still at a great shape compared to other economies.
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