Job terminations and employee resignations in the trade, transportation and utilities sector of the U.S. economy rose in the most recent monthly government data.
The total climbed to 1,277,000 in December from 1,276,000 in November, according to the U.S. Bureau of Labor Statistics’ monthly job openings and turnover report.
The sector also had more job openings, as did the overall financial services industry, in December than the prior month. But financial services sector, which includes insurance, real estate, rental and leasing, had fewer hires and separations in December from November.
For real estate, rental and leasing jobs, the number of openings was down in December from November but up on a yearly basis. While there were fewer separations in December for real estate, rental and leasing than from November, there were also fewer hires on a monthly and a yearly basis, according to the report.
Some real estate brokerages are preparing for possible layoffs with CBRE planning to cut about $400 million in costs this year with some of the savings expected to come from job cuts.
U.S. employers announced 102,943 planned job cuts in January, the highest number of any month since September 2020, according to outplacement firm Challenger, Gray & Christmas.