October 29, 2024 at 02:00PM
Prior month 8.040M revised lower to 7.861M
Job openings 7.443M vs 8.000M estimate. Lowest since January 2021
Vacancy rate 4.5% versus 4.7% last month (revised from 4.8%)
Quits rate 1.9% versus 2.0% (revised from 1.9%) last month
Separations rate x.x% versus 3.1% last month
Details:
Job openings are down 1.9 million over the year
Job openings rate is at 4.5%
Job openings decreased in:
Health care and social assistance: -178,000
State and local government, excluding education: -79,000
Federal government: -28,000
Job openings increased in:
Finance and insurance: +85,000
Hires: STEADY
Number and rate of hires remained steady at 5.6 million and 3.5%, respectively.
Separations: STEADY but still down on the year.
Total Separations
Unchanged at 5.2 million in September; down by 326,000 over the year.
Total separations rate steady at 3.3%.
Quits: STEADY, but down on the year
Remained at 3.1 million; down by 525,000 over the year.
Quits rate unchanged at 1.9%.
Decreases observed in professional and business services (-94,000).
Increases seen in:
State and local government, excluding education: +22,000
Real estate and rental and leasing: +18,000
Layoffs and Discharges: STEADY, but up on the year
Stable at 1.8 million; increased by 238,000 over the year.
Layoffs and discharges rate rose to 1.2%.
Increases in durable goods manufacturing: +46,000
Decreases in state and local government, excluding education: -20,000
Other Separations
Little change, remaining at 292,000 in September.
The revisions from last month showed openings higher, hires up to, but seperations including quit and layoff were up. Mixed.
Job openings for August revised down by 179,000 to 7.9 million
Hires revised up by 118,000 to 5.4 million
Total separations revised up by 171,000 to 5.2 million
Quits revised up by 94,000 to 3.2 million
Layoffs and discharges revised up by 60,000 to 1.7 million
This article was written by Greg Michalowski at www.forexlive.com.
