U.S. Job Openings Reach 9 Million in December Despite Rate Hikes, Showing Labor Market Resilience
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U.S. job openings unexpectedly rose in December to 9 million, the highest level in 3 months, showing the resilience of the labor market despite higher interest rates.
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There are roughly 1.5 jobs per unemployed American currently. Job openings remain historically high compared to pre-pandemic levels.
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The number of Americans quitting jobs ticked lower to 3.4 million in December, indicating workers remain confident in the job market.
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Job switchers have seen larger pay increases recently than those staying in the same role.
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Layoffs were largely unchanged in December, holding around 1.6 million.