US Job Openings Drop to 7.1 Million in November

U.S. employers posted 7.1 million job openings at the end of November, a decline of 303,000 from the previous month, according to the Labor Department's Job Openings and Labor Turnover Survey released Wednesday. The figure marked the lowest level since September 2024 and the second-lowest in nearly five years, signaling persistent caution in hiring despite robust economic growth earlier in the year.

The drop exceeded economists' expectations of 7.6 million openings, with October's tally revised downward to 7.449 million. Businesses and government agencies accounted for the bulk of the decrease, particularly those with 50 to 999 employees. Key sectors driving the decline included accommodation and food services, where vacancies fell by 148,000, and healthcare and social assistance, down 66,000. Wholesale trade saw a reduction of 63,000 openings, while government positions decreased by 89,000, mainly at state and local levels. Federal vacancies rose slightly by 8,000.

Offsetting some losses, construction reported an increase of 90,000 openings, and retail added 121,000, likely in preparation for the holiday season. Transportation, warehousing, and utilities held steady at 108,000...