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6h ago

Job Openings Edge Higher as Hiring Slows and Layoffs Climb in Shutdown-Delayed JOLTS Report

The mixed snapshot is reinforcing market bets on a quarter-point Fed cut.

FILE - Applicants line up at a job fair at the Ocean Casino Resort in Atlantic City N.J., on April 11, 2022. (AP Photo/Wayne Parry, File)
Image
A "we're hiring" sign is displayed outside a Target store, after U.S. employment growth slowed more than expected in July, in Encinitas, California, U.S. August 1, 2025. REUTERS/Mike Blake
A "Now Hiring" sign outside a GNC nutritional supplements store on November 23 in Orlando.

Overview

  • Employers reported 7.67 million vacancies in October, slightly above forecasts of about 7.15 million and little changed from September.
  • Hiring fell by 218,000 to 5.149 million, signaling cooler demand for new workers despite the still-elevated number of openings.
  • The quits rate held at 1.8% with about 2.9 million people leaving jobs, the lowest share since 2020 and a sign of waning worker confidence.
  • Layoffs and discharges rose to roughly 1.85–1.9 million, the highest level since early 2023, pointing to rising separations.
  • The 43-day federal shutdown folded September data into October and led BLS to suspend a usual alignment step, and with November figures still delayed, investors widely expect a 25-basis-point rate cut on Wednesday.