Job openings increased toward the end of 2020, but a big employment gap remains
- Job openings increased to 6.65 million in December, slightly ahead of the FactSet estimate of 6.6 million.
- The hospitality industry saw both a sharp drop in openings and hiring, as well as an increase in layoffs.
- Though vacancies continue to rise, they remain below the pre-pandemic level of just over 7 million.
Employers added slightly more job posts late last year, but hiring slipped as the labor market ended 2020 on an uncertain note, the Labor Department reported Tuesday.
Total openings increased to 6.65 million in December, better than the 6.6 million estimate from FactSet.
That still left a gap of some 4.1 million workers who remained unemployed, many of whom were still displaced by the Covid-19 pandemic.
Though job postings continue to gain, they remain below the pre-pandemic level of just over 7 million in February 2020.