The Bureau of Labor Statistics reported in its Job Openings & Labor Turnover Survey (JOLTS) that the December job openings rate slipped to 2.3% from an upwardly revised 2.4% during November. For the full year the job opening rate improved modestly to 2.3%, its highest since 2007. These levels remained improved versus the recession low of 1.8%. The job openings rate is the number of job openings on the last business day of the month as a percent of total employment plus job openings. Job availability slipped m/m from its highest level since August 2008. Nevertheless, job availability recovered roughly one-quarter last year after the 17.8% decline during 2009.

The private-sector job openings rate also fell m/m to 2.4%, its lowest since June. It was down for the fourth month in the last five. For the full year, however, openings rose 23.7%. Factory sector openings fell sharply during December and by one-quarter for the full year. Professional & business services job openings rose 5.3% in December but ticked down 0.5% for the year. The job openings rate in government remained a low 1.4%. However, it was up for the year due to a mid-year surge with Census taking..

The hires rate remained low at 3.2% for the fourth month in the last five. The hires rate is the number of hires during the month divided by employment. The 3.6% rate in the private sector easily surpassed the government's at 1.4%, The actual number of hires rose 4.5% last year, after three years of decline. Hires in professional & business were the strongest with a 12.6% full-year rise followed by a 13.7% gain in manufacturing.

The job separations rate held at 3.2% for the fourth month in the last five, near its lowest. The actual number of separations ticked 0.8% lower m/m but were off 6.6% for the year. Separations include quits, layoffs, discharges, and other separations as well as retirements. The layoff & discharge rate alone held m/m at a reduced 1.4% and fell y/y to 17.3%, its lowest since 2007. The private sector layoff rate fell for the year to 19.0%.

The JOLTS survey dates only to December 2000 and the figures are available in Haver's USECON database.