U.S. job openings drops again in November

Job openings in the U.S. dropped in November, following a sharp run-up earlier in 2017. Job openings dropped for a second consecutive month. The recent falls followed a sharp run up over the initial three-quarters of 2017. Openings rose 4.4 percent over the past year, but that marks a deceleration from earlier, and if sustained, implies a more moderate rate of hiring ahead, noted Wells Fargo in a research report.

Most industries have seen openings increase in the past year, with mining and manufacturing notching some of the largest gains. Gross hiring dropped in November after what appeared to be storm related catch-up in October. The hiring rate at 3.7 percent continues to be low as compared to the earlier cycle and indicates towards a less dynamic labor market.

Separations also dropped in the month, with modest declines in both the level of quits and layoffs. However, the biggest source of the decline was the “other” category, which includes retirements.

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