U.S. Job Openings Steady at 7.67 Million in October

U.S. job openings remained nearly unchanged in October, totaling 7.67 million, as the labor market showed signs of stability amid broader economic uncertainty. The Labor Department released the figures on Tuesday, following delays caused by a 43-day federal government shutdown that disrupted data collection and reporting.

The October count marked a slight increase from September's 7.66 million vacancies, according to the Job Openings and Labor Turnover Survey, known as JOLTS. The report combined data for both months, as the September figures were not issued separately due to furloughs among federal workers. Hiring held steady at around 5.1 million, while separations, including quits and layoffs, also remained at 5.1 million. Quits totaled 2.9 million, down from the previous year and reflecting a decline in worker confidence, as fewer people left jobs voluntarily. Layoffs and discharges were little changed at 1.9 million.

The labor market has cooled considerably since reaching a peak of 12.1 million openings in March 2022, during the post-COVID economic recovery. High interest rates implemented by the Federal Reserve in 2022 and 2023 to curb inflation contributed to this...