U.S. job openings remained high in a sign of economic resilience
U.S. job openings slipped in November but remained high, suggesting businesses are still determined to add workers, a blow to the Federal Reserve’s efforts to cool hiring and wage gains. There were 10.46 million job vacancies on the last day of November, down slightly from 10.51 million in October, the Labor Department said Wednesday. Openings peaked at 11.9 million in March. Yet the figures show there are nearly 1.8 jobs for every unemployed person, down from a peak of 2 but historically very high. Before the pandemic, there were usually more unemployed people than jobs. Such a high number of job openings suggests the economy is not yet in recession or close to falling into one. Typically businesses stop advertising job openings as the economy stumbles.