Key Points:
- The number of available jobs since May 2021 continues to outnumber Americans looking for work.
- Job openings ticked up to 9.0 million in December, above consensus of 8.75 million, and the highest since September.
- Over the month, job openings increased in professional and business services (+239,000) but decreased in wholesale trade (-83,000).
- The U.S. added 216,000 jobs in December but there were 6.3 million people unemployed.
- The number of hires decreased in health care and social assistance (-119,000) but increased in state and local government, excluding education (+35,000).
- The number total separations were little changed at 5.4 million in December.
- The number of total separations decreased in health care and social assistance (-91,000) but increased in wholesale trade (+39,000).
- Within separations, quits (3.4 million) and layoffs and discharges (1.6 million) changed little.
- The number of quits decreased in health care and social assistance (-71,000) and in transportation, warehousing, and utilities (-35,000). The number of quits increased in wholesale trade (+63,000).
- The number of layoffs and discharges increased in transportation, warehousing, and utilities (+43,000) and in state and local government, excluding education (+18,000).
- The labor force participation rate fell 0.3% to 62.5% in December and is 0.9% below its February 2020 level.
- The Right Facts will continue to monitor unemployment and job openings.