The number of job openings was little changed at 7.7 million in January, the U.S. Bureau of Labor Statistics (BLS) reported today — 728,000 jobs below last year’s level. The job openings rate remained at 4.6% for the month.
While openings rose in trade, transportation, and utilities (+149,000) and financial activities (+122,000), openings in professional and business services dropped by 122,000. The number of hires held at 5.4 million in January, with the rate unchanged at 3.4%.
Total separations held steady at 5.3 million. Quits reached 3.3 million for the month, rising in construction (+53,000) and professional and business services (+30,000). Layoffs and discharges also increased in professional and business services (+62,000), but the overall level changed little at 1.6 million.
The BLS also released annual data for 2024, showing job openings averaged 7.8 million for the year, down by 1.5 million from 2023. Annual hires totaled 65.3 million (down 5.1 million), while annual quits dropped by 5.0 million to 39.2 million, making up 62.0% of total separations. Meanwhile, annual layoffs and discharges went up by 402,000 in 2024 to 20.2 million, representing 31.9% of total separations.
