Job Openings Fall In September

Job openings fell slightly in September, to 4.73 million from a revised 4.85 million in August.

Expectations were for the report to show job openings fell slightly in September, to 4,800,000 from 4,835,000 in August.

August’s report showed job openings were at roughly a 13-year high.

Thursday’s report showed that total job separations increased to 4.79 million in September from 4.53 million the prior month, while hires also rose to 5.03 million from 4.74 million the prior month.

The quit rate in September also increased from the prior month, to 2% from 1.8%, which many will argue shows strength in the labour market as workers are less likely to quit their jobs if they don’t have reasonably confidence they will be able to get another one.

The latest JOLTS report follows the latest report on initial jobless claims, which showed claims rose slightly last week to 290,000. Initial claims still remain near multi-year lows, however.

The JOLTS report has been a bigger focus in the market since Federal Reserve Chair Janet Yellen mentioned that the report is one of her favourite labour market indicators.

More to come …

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