Job openings reach 7.5 million as more workers quit
September JOLTS shows 5.4 million hires and steady layoffs, with an upward revision to August openings.
U.S. job openings totaled 7.523 million in September, while more workers voluntarily left their jobs and layoffs changed little. The report offers a mixed view of labor-market activity rather than a simple signal of renewed hiring strength.
The Bureau of Labor Statistics described openings as little changed at 7.5 million. August openings were revised up by 111,000 to about 7.2 million, so comparisons should use that revised figure rather than the previously reported 7.079 million.
Hires changed little at 5.4 million, and total separations were little changed at 5.3 million. Quits increased to 3.4 million, while layoffs and discharges were little changed at 1.6 million. The quits rate was 2.1%, and the layoffs rate was 1.0%.
Job openings are positions employers are trying to fill at the end of the month. They are not the same as people hired during the month, and an opening does not guarantee a completed hire. The combination of openings, hiring, quits and layoffs gives a fuller picture than the vacancies headline alone.
The increase in quits was concentrated in accommodation and food services, where quits rose by 197,000. Hires in that industry increased by 158,000. Openings in state and local government outside education rose by 104,000.
September openings exceeded the 7.13 million forecast cited by FXStreet. But the survey's monthly estimates are revised, and BLS still characterized the change in openings as small. Friday's October employment report will provide a newer reading on payroll growth and unemployment.
