U.S. job openings declined by slightly more than expected in November, a sign that the labor market is softening in the wake of the 2020 election, the surge in coronavirus infections, and the return of restrictions on many businesses.
Job openings fell 105,000 to 6.527 million in November compared with October, the Labor Department said on Tuesday in its Job Openings and Labor Turnover Survey, or JOLTS report.
Layoffs jumped 295,000 to almost 2.0 million, led by the accommodation and food services industry, which dismissed 393,000 workers on a seasonally adjusted basis. A month earlier, layoffs were just 130,000. A year ago, there were 203,000 layoffs.
Hiring in restaurants, bars, and hotels fell to 839,00 from 912,000 in October. Job openings declined by 9,000 to 709,000.
Overall hiring rose to t 5.979 million, up 67,000 from a month earlier, a positive sign indicating that a significant number of businesses continue to
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