January job openings fall less than expected, quits rate ticks down
Mar. 08, 2023 10:02 AM ETBy: Liz Kiesche, SA News Editor
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- January Job Openings: 10.824M vs. 10.6M consensus and 11.234M (revised from 11.012M).
- Job openings rate: 6.5% vs. 6.9% prior (revised from 6.7%).
- The largest decreases in job openings were in construction (-240K); accommodation and food services (-204K); and finance and insurance (-100K). The number of job openings increased in transportation, warehousing, and utilities (+94K), and in nondurable goods manufacturing (+50K).
- Quits rate: 2.5% vs. 2.6% in December (revised from 2.7%), the U.S. Department of Labor said Wednesday.
- While the quits rate remains elevated in historical terms, it's still the lowest since March 2021, Charles Schwab's strategist Liz Ann Sonders said via tweet.
- Earlier, ADP jobs report showed 242K jobs added in February, more than expected.