Fewer job openings in United States, but layoffs remain at historically-low levels

Looking at three-month moving averages, hiring, quits and layoffs have remained flat for at least six months to over a year, depending on the indicator, writes KPMG US Senior Economist Matthew Nestler.

Job openings declined through 2025 in the United States (US). There were 6.5 million jobs available at the end of December, according to the latest Job Openings and Labour Turnover Survey (JOLTS). The November jobs were revised down to 6.9 million from 7.1 million. The rate of job openings declined to 3.9 percent, the lowest rate in more than eight years apart from losses in March and April 2020. The ratio of job openings to unemployed job seekers, a measure of balance in the labour market...

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Authors: Matthew Nestler

Published Date: 09 February 2026