Below, EPI senior economist Elise Gould offers her insights on today’s release of the Job Openings and Labor Turnover Survey (JOLTS) for October. Read the full thread here.

Since March 2022, job openings have slowly but steadily moved closer to its pre-pandemic level. Much of the elevated rates we saw in 2021 and early 2022 did not indicate an overheated labor market, but rather increased hires and quits. As churn has declined so has job openings. pic.twitter.com/17TefNWE2s

— Elise Gould (@eliselgould) December 5, 2023

Hiring remains above the quits rate in every sector. The great reshuffling isn’t what it was two years ago, but workers continue to quit to find better job opportunities. pic.twitter.com/OalmuTDCmn

— Elise Gould (@eliselgould) December 5, 2023