US job openings fall more than expected

(Sharecast News) - Job openings in the United States dropped sharply in December, nearing a three-year low registered in the autumn Job openings totalled 7.6m in the final month of 2024, down 556,000 from a revised 8.2m in November and well under the 8m consensus forecast.

The drop was mainly a result of fewer openings in finance, professional and business services, and healthcare.

This was the lowest reading since September's print of 7.37m, which was fewest number of openings since January 2021.

New hires increased 1.7% over the month of December to 5.5m, while layoffs fell 1.6% to 1.8m.

Oxford Economics analysts said that Tuesday's data painted a "familiar picture", as a continued low pace of layoffs keeping net job growth positive despite subdued hiring.

"The December JOLTS report is likely consistent with the Fed's view that the labour market is healthy enough to tolerate a more cautious approach to lowering rates, particularly given the uncertainty surrounding tariff policy," said Nancy Vanden Houten, US lead economist from the research firm.