US JOLTs job openings 7.443M vs 8.000M estimate

• 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.