New job openings decrease
Private job openings declined 1.57 percent since October, and layoffs increased 5.68 percent
This chart shows the annual and monthly change in private sector job openings since 2004. Opeanings have been climbing steadily since bottoming out in 2009, but still remain well below pre-recession levels.
SoldAtTheTop
Today, the Bureau of Labor Statistics released their latest monthly read of job availability and labor turnover (JOLT) showing that private non-farm job 鈥渙penings鈥� declined 1.57% since October climbing 6.82% above the level seen in November 2010 while private non-farm job 鈥渉ires鈥� increased 2.11% from October and rose 5.37% above the level seen in November 2010.
Job 鈥渓ayoffs and discharges鈥� increased 5.68% from October falling 1.19% below the level seen last year while quitting activity increased 1.83% from October remaining 11.37% above the level seen in November 2010.
It鈥檚 important to understand that job 鈥渜uits鈥� are included as a component of the 鈥渟eparations鈥� data series as 鈥渜uitting鈥� is a valid means of workers 鈥渟eparating鈥� from employers but their inclusion tends to create an overall procyclical trend in what would otherwise be logically thought of as a countercyclical process (i.e. downturn leads to increase in separations not decrease).