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.

Warner Bros again rejects Paramount bid

Warner Bros. again rejected a takeover bid from Paramount and told shareholders to stick with a rival offer from Netflix.

Warner’s leadership has repeatedly rebuffed Skydance-owned Paramount’s overtures — and urged shareholders just weeks ago to back the sale of its streaming and studio business to Netflix for $72 billion. Paramount, meanwhile, has made efforts to sweeten its $77.9 billion hostile offer for the entire company.

“Paramount’s offer continues to provide insufficient value, including terms such as an extraordinary amount of debt financing that create risks to close and lack of protections for our shareholders if a transaction is not completed,” Warner Bros. Discovery Chair Samuel Di Piazza Jr. said Wednesday. In contrast, he added, the company’s agreement with Netflix “will offer superior value at greater levels of certainty.”