On Tuesday, October 29, 2024 the U.S. Bureau of Labor Statistics released the October 2024 Job Openings and Labor Turnover Summary.

According to the U.S. Bureau of Labor Statistics, the number of job openings remained relatively stable at 7.4 million on the last business day of September. Hires also saw minimal change, totaling 5.6 million for the month. The total number of separations held steady at 5.2 million. Within this category, quits (3.1 million) and layoffs and discharges (1.8 million) showed little variation. This report provides estimates regarding the number and rate of job openings, hires, and separations across the entire nonfarm sector, categorized by industry and establishment size.

Job Openings

On the last business day of September, the number of job openings remained relatively stable at 7.4 million, although it represented a decrease of 1.9 million compared to the previous year. The job openings rate held steady at 4.5 percent for the month. Notable declines in job openings occurred in health care and social assistance (-178,000), state and local government (excluding education) (-79,000), and the federal government (-28,000). In contrast, there was an increase in job openings within the finance and insurance sectors.(+85,000). (See table 1.)

Hires

In September, both the number of hires and the hiring rate showed minimal change, remaining at 5.6 million and 3.5 percent, respectively.

(See table 2.)

Read the full press release here: https://www.bls.gov/news.release/jolts.nr0.htm