In January, JOLTs job openings totalled 7.740 million, exceeding the estimate of 7.630 million. The previous month’s figure was adjusted to 7.508 million from 7.600 million.
The quits rate rose to 2.1% in January, up from 1.9% in December, while the vacancy rate increased slightly to 4.6% from 4.5%. Total separations remained steady at 5.3 million, equating to a rate of 3.3%.
Quits And Layoffs Overview
Quits totalled 3.3 million, with construction and mining/logging seeing increases of 53,000 and 6,000 respectively. Layoffs and discharges remained at 1.6 million, with a rate of 1.0%.
Hires in January stayed constant at 5.4 million, reflecting a rate of 3.4%, although mining and logging hires fell by 6,000.
These figures reveal that employers are still willing to expand their workforce despite higher interest rates. A rise in job openings above expectations suggests businesses continue to seek workers at a steady pace. The adjustments to the prior month’s data imply some volatility in reporting, but the larger trend remains intact.
The increase in the quits rate points to growing confidence among workers. A higher proportion of employees voluntarily leaving their jobs often indicates that better opportunities are available. This shift hints at a labour market that, while not overheating, remains resilient. Quits in construction and mining/logging increasing may suggest industry-specific factors, such as project cycles or commodity price changes, shaping decisions.
The consistency in layoffs and discharges also suggests that companies are not making widespread cuts. Stability in total separations reinforces the idea that businesses are neither aggressively shedding workers nor overly reluctant to hire. The minor uptick in the vacancy rate implies demand for labour is still outpacing supply to some degree.
Hiring Trends And Future Outlook
January’s stagnant hiring figures indicate that while firms are looking for workers, bringing them on board is not accelerating. A drop in mining and logging hires might reflect seasonal shifts or constraints unique to resource-dependent sectors.
For those closely following these labour indicators, all of this means that broader employment trends have not yet shown signs of a sharp downturn. Businesses are still navigating current conditions without drastically shifting their workforce strategies. The next updates on hiring patterns and resignations will clarify whether this hiring trend persists or starts to change course.
