US job openings decline by less than anticipated in January

The number of job openings in the US declined at the start of 2023 albeit by less than anticipated.

According to the US Department of Labor, in seasonally adjusted terms job opening were down by 3.6% month-on-month to 10.824m.

Economists at Barclays Research had anticipated a decline to 10.3m.

December's level for job openings was revised up from 11.012m to 11.234m.

Hiring rose by 1.9% versus December to 6.372m and the number of voluntary separations or so-called 'quits' fell by 5.1% on the month to 3.884m.

Hence the quits rate ticked lower by a tenth of a percentage point to 2.5%.

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