The US Bureau of Labor Statistics reported that job openings remained stable at 7.7 million in October, marking a slight decline of 941,000 compared to the same period last year. The job openings rate held steady at 4.6%, with increases in professional and business services (+209,000), accommodation and food services (+162,000), and information (+87,000). Meanwhile, federal government job openings saw a decline of 26,000.
Quits rose by 228,000 to reach 3.3 million in October, reflecting a higher quits rate of 2.1%. This increase was driven primarily by the accommodation and food services sector (+90,000), signaling growing confidence among workers in their ability to find better opportunities. However, layoffs and discharges remained unchanged at 1.6 million, with notable declines in durable goods manufacturing (-37,000).
While total hires remained steady at 5.3 million, down by 501,000 from the previous year, the US labor market continues to demonstrate resilience. These trends provide a nuanced picture of workforce dynamics, highlighting sector-specific growth and stability despite ongoing challenges.
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