Job openings shrink more than expected

(CNN)– Job openings at U.S. businesses shrank much more than expected to close out 2024.

The Bureau of Labor Statistics reports the number of available jobs sank from 8.16 million in November to an estimated 7.6 million in December.

That’s lower than economists expected.

Some of the biggest drop-offs in openings were at small businesses and for white collar roles.

Most of the slowdown came from a pullback in hiring since layoffs continue to remain low.