Job openings increased in December, but remain significantly lower than March 2022 peak

Below, EPI senior economist Elise Gould offers her initial insights on today’s release of the Job Openings and Labor Turnover Survey (JOLTS) for December. Read the Twitter thread here.

Job openings increased in the latest #JOLTS data for Dec 2022 as hires and separations edged up. Benchmarked against peaks and troughs, labor market metrics have clearly moderated in recent months. Even with the uptick, job openings remain significantly lower than their peak. pic.twitter.com/1CRrzF8Zmu

— Elise Gould (@eliselgould) February 1, 2023

While quits continue to hold steady above historical benchmarks (though lower than this time last year), hiring continues to outpace quits in every major sector as workers seek and find new jobs. pic.twitter.com/J7itCle4cY

— Elise Gould (@eliselgould) February 1, 2023