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<p>The monthly JOLTS report, published by the Bureau of Labor Statistics, provides data on labor demand and turnover. The release is already two months old when it comes out, but this still important indicator gives us a pulse on the job market, even if it’s confirming rather than leading.</p>
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<p>In this morning’s report for December, there were 11 million job openings, which was better than expected while hires and separations were little changed.</p>
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<p>JOLTS CHART</p>
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<p>While the job openings figure seems positive, the majority of these increases came from accommodation and food services (hospitality), retail, and construction and were in companies with less than 250 employees. Companies with more than 5,000 employees saw a decrease in openings.</p>
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<p>Given these figures are not seasonally adjusted, we can surmise that many of the hospitality increases were due to the holiday surge.</p>
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