Job Openings Surge In January, December Revision Muddies Report

In a mixed report, job openings surged in January to 5.541 million from, however, a sharply downward revised 5.281 million in December (5.607 million initially reported). The quits rate, which jumped in December, fell back a sharp 2 tenths to 2.0 percent and points to less confidence among workers to shift jobs. Despite the downward revision and despite the drop in the quits rate, the reading for January job openings, which in percentage terms is at 3.7 percent for a 1 tenth gain, is a positive for the jobs outlook.