BREAKING: US Job Openings Steady at 7.7 M in October; Quits Rise

The US Bureau of Labor Statistics reported that job openings stayed unchanged at 7.7 million in the month of October, which reflected a decrease of 941,000 compared with the same period last year. The job openings rate was at its unchanged position, 4.6 percent, with gains in professional and business services at +209,000, accommodation, and food services at +162,000, and information at +87,000. While federal government job openings fell by 26,000.

Quits increased by 228,000 to 3.3 million in October, an increase in the quits rate of 2.1%. It was led by accommodation and food services (+90,000), suggesting that the surge in resignations is related to workers confident in looking for better employment opportunities. The number of layoffs and discharges has remained virtually unchanged at 1.6 million, with significant declines being in durable goods manufacturing -37,000.

While total hires remained at 5.3 million, down 501,000 from the same period a year earlier, the US labor market is still resilient. These trends give a mixed picture of labor dynamics as workforce growth and stability persist in some sectors amid continued challenges.