There were 7.15 million job openings counted in November, the lowest in more than a year (The 3-month moving average was little changed at 7.42 million.) There were 0.91 job vacancies for every worker counted as unemployed in November, the lowest V-U ratio since March 2021

For private sector jobs, a low(er-)hire, but (still) low-fire market: • Vacancy rate ticked down to 4.5% in November, matching a cycle low • Hiring rate ticked down to 3.5% in November, matching a cycle low • The job-quitting rate ticked up one tenth to 2.2% (off of a cycle low) • The layoff rate ticked down one tenth to 1.2% (off a cycle high)