Job openings in the United States fell to their lowest level in more than five years in December, reinforcing signs that the country’s labor market remains sluggish.
Labor Department data showed job vacancies fell to 6.5 million, the lowest level since September 2020, while the layoff rate rose slightly and the number of workers quitting remained stable.
The figure came in weaker than market expectations, adding to concerns about the momentum of hiring in the world’s largest economy.
This comes despite economic growth remaining strong, with GDP growing at its fastest pace in two years in the third quarter. This highlights a stark gap between economic performance and the labor market.
Economists are now grappling with whether hiring will accelerate to keep pace with growth, or whether automation and artificial intelligence will allow the economy to expand without significant job creation.
