Hiring is down by nearly 800,000 since its peak in February. Quits are also generally down, but they went up in November. Here's the difference:
Note that this is "hires minus quits"—and to be honest, I'm not sure what it means. But it generally seems to indicate less economic activity, with workers having not yet caught on that they might be wise to stay put in their jobs at the moment.
Mainly, though, this post is a celebration of the return of BLS charts after a multi-week vacation. More charts! Hooray!
Is this seasonally adjusted? Outside retail, hiring generally declines toward the end of the year as people are distracted by the holidays and firms pause to work out their next year budgets.
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Quits are up because the first cost cutting moves are usually idiotic and cause great pain to those still working. "Just double everyone's job duties, then cut out raises and benefits, then eliminate beloved perks and we'll save the company!"
Makes me nervous. I just started looking for work and don't currently have a job.