Market Updates
Job Openings Declined to 30-month Low In October
Brian Turner
05 Dec, 2023
New York City
Job openings declined sharply in October after employers across the nation in several industries curtailed announcements for new hires.
The number of job openings declined by 617,000 to 8.7 million, the U.S. Bureau of Labor Statistics reported Tuesday.
Over the month, job openings decreased in health care and social assistance by 236,000.finance and insurance by 168,000, and real estate and rental and leasing by 49,000.
But job openings increased in information by 39,000.
The widespread decline in job vacancies lowered the ratio of openings to available workers to 1.3 to 1 from around 2 to 1 earlier in the year.
On a regional basis, job openings fell in the South by 289,000, the Midwest by 193,000, the West by 83,000, and the Northeast by 52,000.
Over the month, the number of hires and total separations changed little, at 5.9 million and 5.6 million, respectively.
Within separations, quits were 3.6 million, and layoffs and discharges were 1.6 million, and both changed little.
While job openings fell, the number of hires fell slightly, and quits, the measure of workers confidence in finding another job, declined little.
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