Openings and Labor Turnover Survey (JOLTS) published by the Labor Department on
Tuesday showed a 3.8 percent m-o-m drop in the U.S. job openings in September.
According to the report, employers posted 7.024 million job openings in September, compared to the August figure of 7.301 million (revised from 7.051 million in original estimate) and economists’ expectations of 7.211 million. The job openings rate was 4.4 percent in September, down from a revised 4.6 percent in the prior month. The report showed that the number of job openings edged down for total private (-262,000 jobs) and was little changed for government. The job openings level declined in health care and social assistance (-124,000), retail trade (-102,000), and federal government (-19,000). Job openings rose in information (+25,000).
Meanwhile, the number of hires rose by 0.8 percent m-o-m to 5. 349 million in September from 5.884 in August. The hiring rate was 3.9 percent, unchanged from August. The number of hires was little changed for total private and for government. The hires level fell in federal government (-30,000).
The separation rate in September was at 5.808 million or 3.8 percent, compared to 5.732 million or 3.8 percent in August. Within separations, the quits rate was 2.3 percent (-0.1 pp m-o-m), and the layoffs rate was 1.3 percent (-0.1 pp m-o-m).
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