US Job Openings and Labor Turnover Survey for October
Job Openings and Labor Turnover – October 2023
On Tuesday (12-5-23), the US Bureau of Labor Statistics (BLS) reported the results of its Job Openings and Labor Turnover Survey (JOLTS) for October. As of the last business day in October, the number of job openings declined to 8.7 million, a loss of 617,000 job openings. The job openings rate decreased by 0.3 percentage points over the month to 5.3% and fell 1.1 points over the year.
In October, the number of hires held steady at 5.9 million and the rate was unchanged at 3.7%. The number of hires decreased in accommodations and food service.
The total number and rate of separations was little changed at 5.6 million and the rate was unchanged at 3.6% for the fifth month in a row.
The number of quits changed little at 3.6 million and the rate held steady at 2.3% for the fourth consecutive month.
The number and rate of layoffs and discharges changed little from 1.6 million, while the rate held steady at 1.0%.
The number of other separations was little changed at 377,000.
In October, the job openings, hires, and total separation rates change little for establishments with 1 to 9 employees. The quits rate and total separations rate declined for establishments with 5,000 employees or more.
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