Job Openings and Worker Departures Hit New Highs in September
- Job openings surged to 7.52 million, up 333,000 from August.
- Workers quitting their jobs rose to 3.36 million, the highest since March 2025.
- Hires increased by 131,000, while layoffs dropped to 1.64 million.
Job openings saw a noteworthy increase in September, alongside a rise in workers voluntarily leaving their positions, according to a report released by the Bureau of Labor Statistics (BLS) on Tuesday. The data indicated a robust hiring environment, with layoffs concurrently declining.
The BLS reported that job openings reached 7.52 million in September, reflecting a rise of 333,000 from the previous month and exceeding the Dow Jones consensus estimate of 7.15 million. This marks an increase in the job openings rate to 4.5% of the total workforce, a 0.2 percentage point rise from August, as detailed in the Job Openings and Labor Turnover Survey.
Industry-specific increases were noted, with job openings rising in manufacturing by 54,000, state and local government by 108,000, and professional and business services by 106,000.
Moreover, the number of employees quitting their jobs increased to 3.36 million, up by 321,000 from August. This figure represents the highest level of worker departures since March 2025, with quits often viewed as a sign of worker confidence in the job market.
In terms of hiring, September’s statistics revealed an increase of 131,000, bringing total hires to 5.4 million. Conversely, layoffs and discharges fell to 1.64 million, marking the lowest figure since March 2025.
The BLS report precedes the upcoming release of the October nonfarm payrolls data, which is anticipated on Friday. Analysts expect an increase of 59,000 jobs, following a modest gain of only 29,000 in September, while the unemployment rate is expected to remain stable at 4.2%.
In related economic news, September marked a notable rise in factory orders for manufactured goods, which jumped 1.8%, surpassing the forecast of 1.3% after a previous increase of just 0.3% in August.
News Courtesy of CNBC
