Job openings fall to second-lowest level in five years while hiring grows

U.S. job openings fell to about 7.1 million in November from 7.4 million in October, and layoffs also declined, the Labor Department said.

U.S. employers posted fewer job openings in November while layoffs also declined, according to the Labor Department. Businesses and government agencies listed roughly 7.1 million open positions at the end of November, down from 7.4 million in October. The data come from the job openings and labor turnover survey (JOLTS). The release follows a delay tied to last fall’s government shutdown and is separate from the monthly jobs report due Friday. Key facts: - There were about 7.1 million open jobs at the end of November, down from 7.4 million in October. - Layoffs fell, suggesting firms are retaining existing employees even as they add fewer new positions. - The numbers come from the Labor Department’s JOLTS survey, which tracks hiring and separations. - The JOLTS release was delayed after last fall’s government shutdown and complements the monthly jobs report scheduled for Friday. - The report characterizes the market as low-hire, low-fire, with some job security for current workers and continued difficulty for those seeking employment. Summary: The decline in job openings points to cautious hiring by employers despite recent economic growth, while fewer layoffs indicate firms are holding on to staff. The JOLTS data add context ahead of the monthly jobs report due Friday, which will provide additional measures of hiring and unemployment.