
November Job Report and October Job Opening and Turnover Survey
Continuing the theme of recent months, job growth exceeded expectations, coming in at 263,000. Transportation and Warehouse saw a decrease of 15,000 jobs in November. The number of job openings decreased by 353,000 to 10.3 million. Unemployment dropped slightly to 6.0 million and remained at 3.7%. The slight drop in the number of openings and unemployment means a reduction in available jobs per unemployed person. However, the number of jobs per person remains high, with 1.71 jobs available for unemployed persons, leading to a rise in pay again this month. These reports show little ease in the inflationary pressures driven by an employee market.