JOLTS Day Graphs: November 2022 Edition

Every month the U.S. Bureau of Labor Statistics releases data on hiring, firing, and other labor market flows from the Job Openings and Labor Turnover Survey, better known as JOLTS. Today, the BLS released the latest data for November 2022. This report doesn’t get as much attention as the monthly Employment Situation Report, but it contains useful information about the state of the U.S. labor market. Below are a few key graphs using data from the report.

The quits rate remained relatively steady in November 2022, increasingly slightly to 2.7 percent as 4.2 million workers quit their jobs.

With the number of job openings (10.5 million) and hires (6.1 million) remaining at similar levels to the previous month, the vacancy yield stayed at 0.58 in November.

There were 0.57 unemployed workers for every job opening in November, reflecting the relatively steady state of the unemployment rate and the job openings rate.

The Beveridge Curve, which shows the relationship between job openings and unemployment, likewise did not reflect any movement in November 2022.

Overall job openings remained near 10.5 million in November, but declined in sectors such as education and health services, financial activities, and leisure and hospitality.