- Job openings rose to 7.52 million in September, a four-month high
- Layoffs fell to the lowest level since March 2025
- Quits rate increased to 2.1%, highest in over a year
US job openings unexpectedly jumped in September to a four-month high and layoffs fell to the lowest level in over a year, signaling firmer demand for workers heading into the fourth quarter.
Available positions rose 333,000 to 7.52 million from a revised 7.19 million in August, according to Bureau of Labor Statistics data out Tuesday. That topped all estimates in a Bloomberg survey of economists.
The report also showed layoffs slumped to the lowest level since March 2025 and quits rose. The so-called quits rate, which measures the percentage of people voluntarily leaving their jobs each month, climbed to 2.1% — the highest in over a year.
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The increase in job openings and hiring is welcome news, but such a pickup would need to be sustained over several months to signal the labor market is shifting into a higher gear. For more than a year, many employers have been reluctant to either add workers or cut staff amid high prices and geopolitical uncertainty.
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But with economic growth accelerating and consumers still spending, companies may be gaining confidence to expand their payrolls.
The increase in vacancies reflected more postings in industries like professional and business services, state and local government, manufacturing, trade and transportation as well as construction.
Hiring picked up, driven by accommodation and food services. That industry saw a lot of churn in the month as a wave of workers also quit their roles.
There were about 1.1 vacancies per unemployed worker in September, which is generally consistent with a balanced labor market. Federal Reserve officials watch this ratio closely as a proxy for the balance between labor demand and supply. At its peak in 2022, the ratio was 2 to 1.
Continued labor-market resilience has given Fed policymakers room to focus on persistent inflation. The central bank left interest rates unchanged last week after raising them in September for the first time in three years, giving officials more time to assess inflation and the economy.
Fed officials said job gains had kept pace with the workforce and unemployment had changed little, while upgrading their assessment of economic activity to strong. The economy and affordability have been key areas of concern for voters heading into today's midterm elections.
Looking ahead, the government's monthly jobs report due Friday will offer additional insights into the state of the labor market. Economists expect it to show the US created 65,000 jobs in October and for the unemployment rate to be unchanged.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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