US job openings and 'quits' rate rise in December

US companies hired fewer people at the end of 2020, but in a slightly positive omen for the economy, the number of job openings increased.

According to the Department of Labor, job openings rose from 6.527m for November to 6.65m in December.

Economists had penciled-in a dip to 6.45m.

Hiring on the other hand declined from 5.94m to 5.54m, lowering the hiring rate from 4.2% to 3.9%.

Yet so did layoffs, which fell from 2.056m to 1.81m.

In another small potential positive sign for economic activity, the so-called 'quits' rate, which tracks voluntary separations between workers and firms, increased from 2.2% to 2.3%.