US Job Openings Drop to Lowest Since 2020, Layoffs Edge Up (3)

US job openings unexpectedly fell in December to the lowest level since 2020 and layoffs edged up, adding to evidence of sluggish demand for workers.

Available positions decreased to 6.54 million from a downwardly revised 6.93 million reading in November, according to Bureau of Labor Statistics data out Thursday. The latest figure was below all estimates in a Bloomberg survey of economists.

The pullback in openings was driven by professional and business services, as well as retail trade. The rise in layoffs reflected more cuts in transportation and warehousing. The number of hires also climbed but remained subdued.