The Job Openings and Labor Turnover Survey (JOLTS), produced monthly by the U.S. Bureau of Labor Statistics (BLS), offers a comprehensive look at the health of the labor market. This report provides valuable insights into job vacancies, hiring trends, and employee turnover. Specifically, it details the number of job openings, the volume of new hires, and the rates of separations, which include voluntary quits, layoffs, discharges, and other forms of employee departure such as retirements.
By analyzing these metrics, the JOLTS report helps policymakers, economists, and business leaders gauge labor market demand and supply, assess the stability of employment, and identify trends in workforce mobility. For instance, a high number of job openings could indicate strong demand for labor, while a high quit rate might suggest that workers feel confident enough in the job market to leave their current positions for new opportunities. Overall, the JOLTS report is a crucial tool for understanding the dynamics of the employment landscape.
Job Openings and Labor Turnover – November
The latest Job Openings and Labor Turnover Summary, released by the U.S. Bureau of Labor Statistics on January 7, 2026, shows that job openings in November held steady at 7.1 million. While the overall figure was little changed from the prior month, openings were down by 885,000 compared with a year earlier.
The job openings rate remained at 4.3%. Industry trends were mixed: accommodation and food services, transportation and warehousing, and wholesale trade all saw declines, while construction reported an increase in available positions.
Hiring activity also showed little movement, with 5.1 million hires recorded and a rate of 3.2%. State and local government hiring fell, both in education and non‑education roles, while federal government hiring ticked up slightly.
Separations, which include quits, layoffs, and other departures, were unchanged at 5.1 million.
Within this category, quits remained at 3.2 million, reflecting a stable willingness of workers to leave jobs, though accommodation and food services experienced a notable rise in quits.
Layoffs and discharges stayed at 1.7 million, with declines in accommodation and food services, health care and social assistance, and state and local government outside of education.
Impacts of JOLTs Report on the Stock Market
Overall, the November report points to a labor market that is steady but showing signs of cooling compared with the previous year. Construction stands out as a sector with growing demand, while accommodation and food services continue to experience both fewer openings and more voluntary departures.
The November 2025 JOLTS report, showing job openings falling to 7.1 million, the lowest since December 2020, signals cooling labor demand.
Markets interpret weaker openings as a sign of reduced wage pressures and potentially less aggressive Federal Reserve policy, which can support bonds but weigh on equities tied to consumer strength.
