The Bureau of Labor Statistics reported a steady job market in October, with 7.7 million job openings (up 372,000) and 5.3 million hires (down 269,000), little changed from September. Compared to last year, job openings are down by nearly 1 million and hires are down by 501,000.
Key industries like professional and business services (+209,000), accommodation and food services (+162,000), and information (+87,000) saw increases in openings, while federal government roles saw a slight decline (-26,000).
Total separations held steady at 5.3 million. However, quits rose by 228,000, reaching 3.3 million for the month. This suggests growing worker confidence, particularly in sectors like accommodation and food services (+90,000). Layoffs, on the other hand, were down by 169,000, totaling 1.6 million for the month.
