📊 Summary of the Job Openings and Labor Turnover Survey (JOLTS) – November 2025

7 January 2026

The JOLTS report for November 2025 shows that job openings, hires, and separations in the U.S. economy were largely unchanged from the previous month, with job openings at 7.1 million and total separations at 5.1 million. The report provides detailed insight into labor market dynamics, but does not offer forecasts or direct commentary on future trends.

Key Findings from the November 2025 JOLTS Report

1. Overview of the JOLTS Report 📌

The Job Openings and Labor Turnover Survey (JOLTS), produced by the U.S. Bureau of Labor Statistics, tracks monthly changes in job openings, hires, and separations (including quits, layoffs, and other separations) across the nonfarm economy. It covers private businesses and civilian government entities in all 50 states and the District of Columbia. The data is used to assess labor demand, worker mobility, and the overall health of the labor market.

2. Job Openings: Level and Trends

  • Total job openings in November 2025: 7.1 million (little changed from October 2025).
  • Job openings rate: 4.3%.
  • Year-over-year change: Down by 885,000 from November 2024.
  • Industry details:
    • 📉 Decreases in job openings were seen in:
      • Accommodation and food services: -148,000
      • Transportation, warehousing, and utilities: -108,000
      • Wholesale trade: -63,000
    • 📈 Increase in job openings in:
      • Construction: +90,000

3. Hires: Level and Trends

  • Total hires in November 2025: 5.1 million (little changed from October 2025).
  • Hires rate: 3.2%.
  • Industry details:
    • 📉 Decreases in hires:
      • State and local government, excluding education: -39,000
      • State and local government education: -31,000
    • 📈 Increase in hires:
      • Federal government: +11,000

4. Separations: Level and Trends

  • Total separations in November 2025: 5.1 million (unchanged from October 2025).
  • Components of separations:
    • Quits: 3.2 million (little changed)
      • The quits rate is a key indicator of worker confidence and labor market fluidity.
    • Layoffs and discharges: 1.7 million (little changed)
      • 📉 Decreases in layoffs and discharges:
        • Accommodation and food services: -107,000
        • Health care and social assistance: -52,000
        • State and local government, excluding education: -26,000
    • Other separations: 232,000 (little changed; series low)

5. Establishment Size Class Analysis

  • Smallest (1–9 employees) and largest (5,000+ employees) establishments: Little or no change in job openings, hires, and separations rates.
  • Job openings rates by size (Nov 2025):
    • 1–9 employees: 4.8%
    • 10–49 employees: 4.2%
    • 50–249 employees: 4.0%
    • 250–999 employees: 3.8%
    • 1,000–4,999 employees: 5.1%
    • 5,000+ employees: 4.2%
  • Hires rates by size (Nov 2025):
    • 1–9 employees: 2.2%
    • 10–49 employees: 3.1%
    • 50–249 employees: 3.2%
    • 250–999 employees: 3.5%
    • 1,000–4,999 employees: 3.1%
    • 5,000+ employees: 1.6%

6. Revisions to October 2025 Data

  • Job openings for October 2025: Revised down by 221,000 to 7.4 million.
  • Hires for October 2025: Revised up by 219,000 to 5.4 million.
  • Total separations for October 2025: Revised up by 19,000 to 5.1 million.
  • Quits for October 2025: Revised up by 32,000 to 3.0 million.
  • Layoffs and discharges for October 2025: Revised down by 4,000 to 1.9 million.
  • Other separations for October 2025: Revised down by 9,000 to 246,000.

7. Definitions and Methodology

  • Job openings: Positions open on the last business day of the month, available to start within 30 days, and for which active recruitment is taking place.
  • Hires: All additions to payroll during the month.
  • Separations: Includes quits (voluntary), layoffs/discharges (involuntary), and other separations (retirement, death, disability, transfers).
  • Sampling: About 21,000 establishments, stratified by ownership, region, industry, and size.
  • Estimation: Adjusted for nonresponse, benchmarked to other BLS employment data, and revised annually.

8. Economic Interpretation and Implications

  • Labor Market Cooling: The year-over-year decline in job openings (down 885,000) suggests a cooling in labor demand compared to the previous year.
  • Stable Turnover: Hires and separations remaining steady indicate a relatively stable labor market, with no major shifts in hiring or firing activity.
  • Worker Confidence: The quits rate, which is little changed, implies that workers’ willingness to leave jobs for new opportunities has not shifted significantly.
  • Industry Shifts: The decrease in job openings and layoffs in accommodation and food services, and the increase in construction job openings, point to sector-specific dynamics.
  • Size Class Stability: The lack of significant change across establishment size classes suggests that labor market trends are broadly distributed and not concentrated in any one segment.

💡 Summary:

The November 2025 JOLTS report shows a U.S. labor market that is stable but less dynamic than a year ago. Job openings have declined over the past year, indicating reduced demand for new hires, but the rates of hiring and separations have not changed much month-to-month. This suggests that while employers are less aggressive in seeking new workers, they are not making large-scale layoffs or seeing a surge in voluntary quits. The data highlights sectoral differences, with construction seeing more openings and accommodation/food services seeing fewer. For economic analysis, these trends point to a labor market that is neither overheating nor contracting sharply, but rather adjusting to broader economic conditions.

References:

  1. Job Openings and Labor Turnover Survey, US Bureau of Labor Statistics

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