The number of open jobs in the economy stayed pretty flat in November, near a 2 1/2-year low reached in October and consistent with a broader downward trend in the number of available jobs, The Hill reported. Openings fell to 8.79 million from 8.85 million in October, while new hires dipped to 5.47 million from 5.83 million, the Labor Department reported Wednesday in its monthly Job Openings and Labor Turnover Survey (JOLTS). The latest numbers hold the ratio of open jobs to job seekers even at about 1.4-to-1, which is down significantly from its post-pandemic peak of nearly two open jobs for every unemployed person. The strength of the labor market has been a frequent source of surprise for economists during the recovery from the pandemic, but signs of cooling are becoming more noticeable. Despite jaggedness in the curve of monthly job openings over the past two years, an overall downward slope has taken hold since openings peaked in March at more than 12 million.
