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U.S. job openings increase in December; quits decline -Breaking

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© Reuters. FILE PHOTO – People line up in front of a recently reopened Career Center for In-Person Appointments in Louisville, U.S.A, April 15, 2021. REUTERS/Amira Kazoud

WASHINGTON, (Reuters) – U.S. job opportunities rose to record levels in December. This suggests that the deceleration of employment growth in the last year is largely due to worker shortages.

According to the Labor Department’s monthly Job Openings & Labor Turnover Survey (JOLTS) report, job openings (a measure of demand for labor), rose 150,000-10.9 million in December. It is still not too far away from the July record 11.098million. Reuters polled economists and predicted 10.3 million vacancies.

Accommodation and food service led the nearly widening trend, with an additional 133,000 jobs. Notable increases were seen in the number of vacancies for information and nondurable goods production, as well as in state education.

However, job opportunities in wholesale trade and finance have declined.

The rate for job openings was 6.8%. From 6.3million to 333,000, the number of hiring jobs fell. Professional and business services saw the most drastic decline in hiring, with 159,000 jobs lost. With 4.2% unemployment, there was no change in the rate of hiring.

Last month, the government reported that nonfarm payrolls rose by 199,000 jobs in Dec. This is the lowest increase in one year.

JOLTS also revealed that the December JOLTS report showed that 161,000 people quit their job to reach a record 4.3 million. Construction is seeing fewer people leave healthcare, housing and food service industries.

However, there were many more resignations from the manufacturing of nondurable goods. With 2.9% as the quit rate, this was unchanged. South saw a decrease in quits.

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