Job Openings Fall to the Lowest Level Since March 2021

Job openings fell more than expected in October and hit the lowest level over 31 months, according to the latest data from the Bureau of Labor Statistics.

• The number of job openings decreased to 8.7 million on the last business day of October, down from 9.35M in September and the lowest level since March 2021.

• Economists predicted a much smaller drop to 9.3M.

Tightening in Health Care. Job openings decreased in health care and social assistance fell 236,000 in October followed by finance and insurance (-168,000), and real estate and rental and leasing (-49,000).

Total Separations. Quits, layoffs and discharges, and other separations were little changed at 5.6M to end October.

• Quits were mostly unchanged at 3.62M in October, down from 3.64M in September and still above the sub 3.0M pre-pandemic average.

Hires. The number of hires changed little at 5.88M in October, down slightly from 5.9M in September and the second lowest level since 2021.