US job openings fall to 12-month low in November
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The news: US job openings fell to a 12-month low in November as hiring slowed, signalling increasing caution among employers.
The numbers: The number of new job openings fell to 7.15 million in November from a downwardly revised 7.45 million in October. A Bloomberg survey of economists anticipated 7.6 million vacancies for the month. The data from the US Bureau of Labor Statistics showed that openings fell by 885,000 year-on-year.
The context: The sector which saw the largest number of openings was construction, with 90,000 new roles, while the number of jobs declined in accommodation and food services, followed by transportation, warehousing, and utilities and wholesale trade.
Meanwhile, data released from ADP Research on Wednesday also showed sluggish hiring across US companies in December last year, with private payrolls increasing by a moderate 41,000. The figures underscore concerns that the US labour market is gradually cooling.
The sources: Bureau of Labor Statistics, ADP Research, Bloomberg
