US job openings fell slightly in November but remain high by historic standards

America's employers posted 8.8 million jobs openings in November, down slightly from October and fewest since March 2021. But demand for workers remains strong by historical standards despite higher interest rates.

Wednesday's report from the Labor Department showed that the number of job vacancies dipped from 8.9 million in October. It also showed that the number of people quitting their jobs — a sign of confidence in the job market — fell to its lowest level since February 2021. The number of quits is now roughly where it stood before the pandemic erupted in February 2020.

In November, job openings dropped by 128,000 in transportation, warehousing and utilities and by 78,000 at hotels and restaurants. The federal government reduced job openings by 58,000. By contrast, openings in construction rose by 43,000 and in retail by 42,000.