US: Job openings edge down again - Wells Fargo

After a sharp run-up earlier this year, job openings fell for a second consecutive month noted analysts from Wells Fargo. They explained that turnover also fell and continues to suggest labor market dynamism has fallen in recent years.

Key Quotes: 

“Job openings edged down for a second straight month in November. The recent declines followed a sharp run up over the first three-quarters of 2017. Openings are up 4.4 percent over the past year, but that marks a slowdown from earlier and, if sustained, suggests a more moderate pace of hiring ahead.”

“Most industries have seen openings rise over the past year, with mining and manufacturing notching some of the largest gains. 

“Gross hiring fell in November after what looked to be storm-related catch-up in October. At 3.7 percent, the hiring rate remains low relative to the previous cycle and points to a less dynamic labor market today.”