Overview
- BLS data show job openings fell to about 7.15 million in November, the lowest in over a year, while hires slipped to roughly 5.12 million and the hiring rate eased to 3.2%.
- Openings declined across most industries except retail and construction, layoffs decreased, and quits rose, signaling steady worker confidence despite slower churn.
- ADP estimated private-sector payrolls grew by 41,000 in December, coming in below forecasts and reinforcing signs of softer hiring momentum.
- December job gains were concentrated in health care, education, and leisure and hospitality, while manufacturing, professional and business services, and information posted losses.
- The cooler readings are sharpening divisions within the Fed over potential rate cuts as investors await the official December employment report expected to show modest payroll growth.