US Job Openings Drop Sharply in November, Signaling Easing Labor Demand

• US job openings fell by 303,000 to 7.146 million in November, exceeding economists' expectations.
• Hiring also decreased by 253,000 positions to 5.115 million, indicating a slowdown in labor demand.
• Economists attribute the decline to economic uncertainty, policy concerns like import tariffs, and AI integration.
• The labor market faces structural challenges, with predictions for December showing a slight increase in nonfarm payrolls and an easing unemployment rate.
• The November unemployment rate of 4.6% was partially distorted by a 43-day federal government shutdown.

Why It Matters: US labor demand is easing, with job openings and hiring declining amid economic uncertainty and structural shifts.