Breaking: JOLTS Report Shows US Job Openings Steady at 7.7M in October, Resignations Rise

The US Bureau of Labor Statistics reported that job openings remained stable at 7.7 million in October, marking a slight decline of 941,000 compared to the same period last year. The job openings rate held steady at 4.6%, with increases in professional and business services (+209,000), accommodation and food services (+162,000), and information (+87,000). Meanwhile, federal government job openings saw a decline of 26,000.

Quits rose by 228,000 to reach 3.3 million in October, reflecting a higher quits rate of 2.1%. This increase was driven primarily by the accommodation and food services sector (+90,000), signaling growing confidence among workers in their ability to find better opportunities. However, layoffs and discharges remained unchanged at 1.6 million, with notable declines in durable goods manufacturing (-37,000).

While total hires remained steady at 5.3 million, down by 501,000 from the previous year, the US labor market continues to demonstrate resilience. These trends provide a nuanced picture of workforce dynamics, highlighting sector-specific growth and stability despite ongoing challenges.