Job openings dropped by 410,000 to 10.8 million in January, according to recent data from the U.S. Bureau of Labor Statistics.
The number of quits declined slightly to 3.9 million (-207,000), but layoffs and discharges jumped by 241,000 to 1.7 million. Professional and business services, in particular, had a significant decrease in quits (-221,000) and an increase in layoffs and discharges (+190,000). There were also 95,000 job openings in the industry in January.
Where job openings increased
- Professional and business services (+95,000)
- Transportation, warehousing, and utilities (+94,000)
- Nondurable goods manufacturing (+50,000)
- Wholesale trade (+50,000)
- Other services (+43,000)
Where job openings decreased
- Construction (-240,000)
- Accommodation and food services (-204,000)
- Finance and insurance (-100,000)
- Retail trade (-94,000)
- Real estate and rental and leasing (-51,000)