JOLTS Plummet: US Job Openings to Lowest Level in a Year
The US labor market is again showing signs of cooling. Job openings (JOLTS) fell in November to their lowest level in more than a year, while the pace of hiring also slowed—indicating companies are becoming more cautious about opening new positions.
Data from the Bureau of Labor Statistics (BLS) showed the number of openings fell to 7.15 million, from a downwardly revised 7.45 million the previous month. This figure was also well below economists' consensus forecast of around 7.6 million, confirming that labor demand is not as strong as the market had anticipated.
The weakening of openings was particularly evident in the leisure & hospitality, healthcare & social assistance, and transportation & warehousing sectors—three areas that had previously been quite active in absorbing labor. At the same time, hiring fell to its lowest level since mid-2024, indicating that companies are not only reducing job postings but also taking a slower approach to hiring.
However, one factor is tempering recession fears: layoffs are actually easing. This means that companies are likely opting for a "hold on" strategy (reducing hiring) rather than implementing large-scale layoffs. The combination of "downward vacancies + slowing hiring + stagnant layoffs" points to one conclusion: the job market is weakening gradually, not collapsing suddenly.
Source: Newsmaker.id
