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In September, the number of job openings in the United States increased slightly, reaching 7.5 million, according to the Labor Department's Job Openings and Labor Turnover Survey (JOLTS). This figure exceeded economists' expectations, who had forecasted 7.1 million unfilled positions. The job openings rate rose to 4.5% from 4.3% in August, as reported by The Edge Malaysia.
The number of hires remained relatively stable at 5.4 million, with the hires rate increasing to 3.4% from 3.3% in August. The JOLTS report also noted that total separations, including quits and layoffs, edged higher. Layoffs and discharges decreased by 127,000 to 1.641 million, with the rate falling to 1.0% from 1.1% in August.
Job openings saw an increase in state and local government sectors, while accommodation and food services led the way in hiring during September. Despite the rise in job openings, the U.S. labor market continues to experience a "low-hire, low-fire" state, with strong profits and resilient domestic demand keeping layoffs near historic lows, according to HRD America.
The ongoing U.S.-Israeli war with Iran has made employers hesitant to boost hiring. The unemployment rate remained unchanged at 4.2%, and non-farm payrolls increased by 29,000 jobs in September. Economists expect payrolls to have advanced by 65,000 in October.