December JOLTS Labor Demand Analysis

The December JOLTS report reveals a precarious labor market with job openings falling to 6.5 million and turnover activity hitting decade lows. While layoffs remain steady for now, the continued decline in openings suggests hiring conditions have yet to bottom out.

Key Takeaways

• 1.Job openings fell to 6.5 million in December, a 10% decline over the past year, indicating a persistent slide in labor demand.
• 2.Hiring and quit rates remain at their lowest levels in roughly a decade (excluding the start of the pandemic), suggesting subdued labor market activity.
• 3.While the layoff rate is currently stable at 1.1%, forward-looking data from Challenger shows an increase in job cut announcements.

Table of Contents

• Summary
• Job Openings
• Openings Down, Turnover Remains Depressed
• Subscription Information
• Required Disclosures
• Important Information for Non-U.S. Recipients

Document Preview

Page 1 of 5

Subscribe for full accessStart Free Trial