US job openings jump 333,000 to 7.523 million in September
U.S. job openings rose by 333,000 to 7.523 million in September, exceeding expectations after three consecutive disappointing JOLTS reports. The simultaneous surge in quits complicates the labor-market read, creating a potentially hotter signal for the Federal Reserve despite recent cooling concerns.
STOCK PHOTO · MATHEUS NATANThe story
The Bureau of Labor Statistics reported 7.523 million job openings in September, up 333,000 from an upward-revised 7.190 million. Economists had expected 7.164 million openings, making the release the first beat since May after three months of disappointing JOLTS reports.
The prior-month figure was revised up from the previously reported 7.079 million, marking the second upward revision to the series. The release therefore combines a stronger current reading with a firmer starting point than earlier estimates had indicated.
The report also showed a near-record increase in Americans quitting their jobs. A higher quits rate is generally associated with worker confidence and labor-market mobility, while more openings point to continued employer demand for labor; together, the figures present a less uniformly soft picture than recent JOLTS releases.
The release does not by itself establish whether the September strength persisted into October or how policymakers will weigh it against other labor and inflation data. The next JOLTS report and the subsequent employment report will help determine whether the jump was a one-month reversal or a broader change in labor-market momentum.
Our read · Tue, Nov 3
September job openings jumped 333,000 to 7.523 million as Americans quit jobs at a near-record pace.
Why. The release makes the labor-market picture less straightforward for policymakers: stronger hiring demand and elevated quits can support a higher-for-longer interpretation, but a single monthly JOLTS reversal does not settle the trend. The next JOLTS and employment reports will determine whether September's 7.523 million openings represent renewed momentum or a temporary rebound.
Both cases
What could change this view: A reversal in the next JOLTS report or weaker employment data would undermine the interpretation that September marked a durable labor-market reacceleration.
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Reported by ZeroHedge as Job Openings Unexpectedly Soar By Over 330K, Amid Near-Record Surge In Americans Quitting
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