Job Openings, Hires, Quits And Layoffs All Rebounded In November

Tyler Durden's picture

While too backward looking to be actionable (it reflects the labor situation with a 2 month delay), today's JOLTs report showed little in terms of changes for "Janet Yellen's favorite labor market indicator": the number of job openings was little changed at 5.522 million, below the 5.555 million expectation, but above a downward revised 5.451 million (from 5.534 million). 

Hires and separations were also little changed at 5.219 million (up from 5.160 million), and 5.028 million (up from 4.966 million), respectively. Within separations, the quits rate was unchanged at 2.1 percent and the layoffs and discharges rate was unchanged at 1.1%. That said, the pace of hiring appears to have tapered off, after hitting cycle highs in February 2016 at 5.5 million, and remaining at levels largely unchanged over the past 2 years.

As shown in the next chart, while the trailing pace of job additions has been modestly declining in the past two years, net hiring also appears to have plateaued.

Meanwhile, discharges and other layoffs jumped by 68,000 in November rising to 1.637 million after hitting cycle lows of 1.513 million in September.

The offsetting good news, however, is that being "quits", or the so-called take this job and shove it indicator, also rose, increasing by 41,000 to 3.064 million, just shy of the all time high reported last December when a total of 3.088 million workers quits their jobs on their own terms.

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GraveDancer's picture

pre-WW1/WW2 economic situation unfolding everywhere!

Book> The Road to World War III: Can the Dark forces of anti-Freedom trump Humanity?


flaminratzazz's picture

doom porn.

“I know not with what weapons World War III will be fought, but World War IV will be fought with sticks and stones.”

Nuclear missiles are so last century and the reason for AE's comment. HE knew about nuclear war as he was the father of the equations to split the atom and yet even he knew that we would go past that.

Might want to start thinking skynet scalar

Justin Case's picture

Same O'L low flying plane that is losing speed. Jawboning is becoming less effective. Time to get the helicopters fueled up and a big dose of QE. The options of getting lift off are running out.

JRobby's picture

How much is economic activity connected to gut level feelings? Optimism vs. Pessimism? 

You decide.

Small Business index of optimism has revisited 1980 levels per Bloomberg (not a commercial for them)

hartinvest's picture

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svs9000's picture

The peak is here folks!