JOLTS Day Graphs: December 2021 Edition
The quits rate ticked down slightly to 2.9 percent in December, as the number of quits fell 161,000 to 4.3 million.
With job openings fairly steady at 10.9 million and hires decreasing 333,000 to 6.3 million, the vacancy yield declined to 0.57 in December.
The ratio of unemployed-worker-per-job-opening remains low, falling further from 0.63 unemployed workers per job opening in November to 0.58 in December.
The Beveridge Curve continues to be in an atypical range compared to previous business cycles, as the unemployment rate declined slightly in December and the job openings rate remained elevated.
Job openings slowed in several sectors—such as education and health services, manufacturing, and trade, transportation, and utilities—that have seen elevated job openings relative to pre-pandemic levels.