December 2024 JOLTS Report: Resting on a Stable Foundation

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While job openings in December fell short of expectations, reversing some recent gains, sideways movements in quits and hires helped to reinforce the emerging narrative of gradual stabilization in the job market after two-plus years of steady slowdowns. To be clear, both the quits and hires rates are low relative to historic norms and suggest that employers and job seekers still lack complete confidence in their ability to hire or get a new job quickly. But their consistent sideways movements over the past several months at least suggest they aren’t getting any worse, and may be primed for a rebound

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