It doesn't orbit us - it orbits the Sun, just like we do.
However:
bizarrely and amazingly, it "stays with us" ...
it keeps position outside us - it takes JWT 365 days to go around, just as it takes us 365 days to go around.
How is this achieved?
We have an incredibly long piece of string attached to it.
We (the Earth) spin around just like on a playground ride. We hold on to the string, and the JWT goes around "outside" us, and stays in place.
Nah, no string but bizarrely gravity works exactly, precisely, like a string would - if you are at exactly the right distance.
Various interesting spacecraft hang out at this "L2" region. I have included an accurate drawing of our astounding GAIA spacecraft in the diagram.
The JWT is kind of the "strongman" of our space telescopes. The <PERSON> -quarterback type in high school. You know ... tallest, strongest, goes on to marry <PERSON>, etc. GAIA is kind of the "class smartass and superbrain" type. (Beyond all belief, GAIA is ... 419
mapping the milky way. No, really.)
All of this was invented by the French (this guy called Lagrange - the "L" in "L2"), so today naturally the French just assume that JWT, etc, are all, basically, French things - after all, they thought of it, someone else just did some welding.
The actual "detailed" manner in which GAIA for example flies is a Lissajous orbit. (Yup - another French guy!) Coincidentally Lissajous sounds a bit like "lasso", and on nice diagrams such as here you can see it looks like a lasso. Giddyup, space telescopes!
NASA, err, France's blokes who worked this out:
Bonus factoid - you might be wondering why the effort to put it in this particular place. This was explained very nicely by @A.Leistra in a comment.
Have a careful look at the diagram and put yourself in the place of the yellow JWT... Try it at different points around the diagram.
Now - from any where on the circle, look towards the Earth and the Sun.
Notice that ......... they are in the same place from your point of view.
The Sun & Earth are total troublemakers to space telescopes. Because they are always in exactly the same direction, the JWT can keep its back to them at all times, always. The JWT has one big shield, which will always shield both the Sun & Earth.
How clever are the French? 758