Fewer job openings in normal times might be not great news, but right now, it is — cautiously speaking — a good sign. 

There are fewer job openings and fewer people are quitting jobs — signs that the Federal Reserve’s interest rate hikes are working as intended.

Response rates to The Bureau of Labor Statistics’ JOLTS report are continuing to waver according to Bloomberg reporter, Reade Pickert.

The more people switch jobs, the better the odds anybody can find a better one.

JOLTS numbers can tell us about demand for workers. But the data doesn’t say how hard employers are trying to hire somebody.

There’s less demand for workers in retail and many service sectors.

It pushes back on the idea that the economy is slowing. But the number of workers who quit, were hired or were laid off didn’t change much.

Even when adjusted for inflation, 60% percent of workers who changed jobs earned more in their new roles.  

Bart Hobijn of the San Francisco Fed finds that during fast recoveries, workers often leave companies to join other companies.

That was down slightly from September, but still high. Some say watch that figure to know what will happen to the economy in 2022.