US Job Openings and Labor Turnover Summary for September

On Tuesday, the US Bureau of Labor Statistics (BLS) released the results of its Job Openings and Labor Turnover Survey (JOLTS) for September. As of the last business day in September, the number of job openings was 7.4 million. Year-over-year, the measure was down 1.9 million. The job openings rate was 4.5%, little changed from 4.8% in August.

The number and rate of hires changed little at 5.6 million and 3.5%, respectively.

The number of total separations was unchanged at 5.2 million but was down by 326,000 year-over-year. The total separations rate was unchanged at 3.3% during the month.

The number of quits changed little at 3.1 million but was down by 525,000 year-over-year. The quits rate was little changed at 1.9%.

The number of layoffs and discharges changed little at 1.8 million but increased by 238,000 year-over-year. The layoffs and discharges rate increased to 1.2%.

The number of other separations changed little at 292,000.

In September, establishments with 1 to 9 employees showed little or no change in job openings, hires, quits, and total separations rates, while the layoffs and discharges rate increased. For establishments with 5,000 or more employees, the job openings, hires, and total separations rates showed little or no change.

Revisions

The number of job openings for August was revised down by 179,000 to 7.9 million; the number of hires was revised up by 118,000 to 5.4 million; and the number of total separations was revised up by 171,000 to 5.2 million. Within separations, the number of quits was revised up by 94,000 to 3.2 million, and the number of layoffs and discharges was revised up by 60,000 to 1.7 million.