November job openings data

  • Prior was 6652K (revised to 6632K)
  • Pace of hiring +4.2% vs. +4.1% last month
  • 3.156M people quit a job in November vs 3.150m prior. The quit rate was 2.2% vs 2.2% prior
  • Separations rate 3.8% vs. 3.6% in October
  • Layoffs and discharges 1.4% vs. 1.2% in Oct

This paints a picture of a jobs market that slightly softened in November and we say that it the non-farm payrolls report for the month. Expect the weakness to continue in December and likely in January as well.