U.S. Job Openings, Quits Remained Elevated at End of Last Year
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The U.S. labor market remained tight at the end of last year with job openings and worker turnover hovering near the highest levels on record, though there are signs demand cooled as the Omicron variant disrupted the economy in January.
The Labor Department on Tuesday said there were 10.9 million job openings in December, up slightly from 10.8 million the previous month. Meanwhile, the number of times workers quit fell to 4.3 million in December, from a record 4.5 million. Hiring slowed to 6.3 million, down from 6.6 million.
Separate private-sector data for January showed that employers pulled back on demand for workers last month. An analysis of postings by job-site Indeed estimated that the labor market had 10.8 million openings on Jan. 21, – still reflect a labor market where the number of jobs continues to far exceed the number of available workers.
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