U.S. employers posted far fewer jobs in November than the previous month, a sign that employers aren’t yet ramping up hiring even as growth has picked up.

Businesses and government agencies posted 7.1 million open jobs at the end of November, the Labor Department said Wednesday, down from 7.4 million in October. Layoffs also dropped, however, as companies appear to be holding onto workers even as they are reluctant to add staff.

The report suggests that the “low-hire, low-fire” job market remains in effect, with workers enjoying some job security but those out of work struggling to find new jobs. The moribund labor market stands in contrast with data showing solid economic growth, which topped 4% at an annual rate in last year’s July-September quarter, the latest data available. Economists forecast growth slowed but remained solid in the final three months of 2025.

A key question for this year is whether hiring will pickup to match healthy growth, or whether sluggish job gains will eventually drag down the economy. There is a third possibility: Automation and artificial intelligence could enable steady economic growth without creating many jobs.

Further insights into that question will emerge Friday when the monthly jobs report for December will be released.

The number of postings in November was the fewest since September 2024. But outside that month, it was the lowest in nearly five years.

The figures provide some critical measures of the job market after last fall’s government shutdown delayed the release of data on hiring and inflation. Wednesday’s report is known as the job openings and labor turnover survey, or JOLTS, and provides key insights into the state of hiring and firing.

(AP)