Today's Report (01/04/2021)

The number of job openings decreased to 10.6 million on the last business day of November, the U.S. Bureau of Labor Statistics reported today. Hires were little changed at 6.7 million and total separations increased to 6.3 million. Within separations, the quits rate increased to 3.0%, matching a series high last seen in September. The layoffs and discharges rate was unchanged at 0.9%. This release includes estimates of the number and rate of job openings, hires, and separations for the total nonfarm sector, by industry, by four geographic regions, and by establishment size class.

Job Openings

On the last business day of November, the number and rate of job openings decreased to 10.6 million (-529,000) and 6.6%, respectively. Job openings decreased in several industries with the largest decreases in accommodation and food services (-261,000); construction (-110,000); and nondurable goods manufacturing (-66,000). Job openings increased in finance and insurance (+83,000) and in federal government (+25,000). The number of job openings decreased in the South and Midwest regions.

Hires

In November, the number and rate of hires were little changed at 6.7 million and 4.5%, respectively. Hires were little changed in all industries and in all four regions.

Separations

In November, the number of total separations increased to 6.3 million (+382,000). The total separations rate was little changed at 4.2%. The number of quits increased in November to a series-high 4.5 million (+370,000). The quits rate increased to 3.0%, matching the series high in September. In November, the number of layoffs and discharges was little changed at 1.4 million. The layoffs and discharges rate was unchanged at 0.9%. The number of other separations was little changed in November at 377,000.


What is it?

It publishes the total number of new hires and layoffs in the month, as well as how many job openings remained in that period.

A survey done by the US Bureau of Labor Statistics to help measure job vacancies. It collects data from employers about their business's employment, job openings, recruitment, hires, and separations.

JOLTS defines Job Openings as all positions that are open (not filled) on the last business day of the month. A job is "open" only if it meets all three of the following conditions:

1. A specific position exists and there is work available for that position.

2. The job could start within 30 days, whether or not the establishment finds a suitable candidate during that time.

3. There is active recruiting for workers from outside the establishment location that has the opening.

A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD.

How does it affect the markets?

The reaction is generally muted.