U.S. Job Openings Remained Little Changed in October

U.S. number and rate of job openings remained a little unchanged at 6.7 million and 4.5% respectively on the last business day of October, according to the Bureau of Labor Statistics press release. Most job openings were in health care and social assistance at 122,000 and state and local government education, which recorded 23,000 gains.

• Job Openings
  • In October, the number of job openings declined over the year by 596,000 to 7.1 million, reflecting the continued impact of the COVID-19 pandemic on the labor market.
  • The largest declines in job openings in October were in retail trade, accommodation and food services, and finance insurance.
  • Only nondurable goods and durable goods manufacturing had an increase in job openings.

• Hires
  • In October, hires were little changed at 5.8 million while total separations rose to 5.1 million.
  • Hires decreased in wholesale trade by 81,000, other services by 74,000), and federal government by 12,000
  • Hires increases were largest in transportation, warehousing, utilities, and durable goods manufacturing but declined in construction and local government education

• Separations
  • In October, the total number of separations increased by 263,000 to 5.1 million while the total separation rate was little changed at 3.6%
  • The quits rate was unchanged at 2.2%, while the layoffs and discharges rate increased to 1.2%
  • The number and rate of layoffs and discharges rose by 243,000 to 1.7 million and 1.2%, respectively, in October

• Net Change in Employment
  • Over the 12 months ending in October, hires totaled 70.4 million, and separations totaled 76.1 million, yielding a net employment loss of 5.7 million

U.S. stocks are currently declining as the dollar gains. SPY is down 0.56%, EURUSD is down 0.20%