Job openings drop to 2nd-lowest level in 5 years in November

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...