Published 10:52 AM on January 4, 2022 go through staff member

Below, EPI economists provide their preliminary insights on the November Job Vacancy and Labor Flow Survey (JOLTS) released today.

From Elise Gould, Senior Economist at EPI (@eliselgould):

Read the full Twitter topic here.

Between October and November 2021, job vacancies were reduced by more than 500,000 (-529k) to 10.6 million. The job vacancy rate fell to 6.6%, the lowest level since June (but still at an all-time high). The largest drop in job vacancies was in accommodation and catering services (-261k). pic.twitter.com/3JdnM7uQBx

-Elise Gould (@eliselgould) January 4, 2022

As the number of departures continues to rise, the number of recruits is rising. The workers seemed confident to quit their jobs to find better jobs.

What needs to be clear is that these trends predate the rise of Omicron. pic.twitter.com/dI5AhGA8Tp

-Elise Gould (@eliselgould) January 4, 2022

Accommodation and food services are still a key industry that deserves attention. Although job vacancies decreased in November, as the number of departures continued to rise, the number of recruits remained stable. The number of recruits is still higher than the number of exits, which indicates that some exiting people may find better opportunities in the industry. pic.twitter.com/6PG8rAJrNr

-Elise Gould (@eliselgould) January 4, 2022

From EPI Chairman Heidi Shierholz (@hshierholz):

Read the full Twitter topic here.

In the latest #Bumps Statistics show that 4.5 million people resigned, but *6.7 million people were hired. People who quit are doing other jobs instead of leaving the workforce. From the Internet, the labor market will add a lot of jobs every month. 2/

-Heidi Shierholz (@hshierholz) January 4, 2022

But it must be noted that today’s JOLTS data is November’s data, all of which are Omicron’s previous data. 6/

-Heidi Shierholz (@hshierholz) January 4, 2022