November job openings data
- Prior was 6652K (revised to 6632K)
- Pace of hiring +4.2% vs. +4.1% last month
- 3.156M people quit a job in November vs 3.150m prior. The quit rate was 2.2% vs 2.2% prior
- Separations rate 3.8% vs. 3.6% in October
- Layoffs and discharges 1.4% vs. 1.2% in Oct
This paints a picture of a jobs market that slightly softened in November and we say that it the non-farm payrolls report for the month. Expect the weakness to continue in December and likely in January as well.
