The labor market showed significant activity in September, according to the latest report from the Bureau of Labor Statistics (BLS). New job openings reached 7.52 million, reflecting an increase of 333,000 compared to August, surpassing analysts’ expectations, which predicted 7.15 million openings.
As a percentage of the total workforce, the job openings rate rose to 4.5%, marking a 0.2 percentage point increase from the previous month. Notably, there are approximately 414,000 more job openings than individuals classified as unemployed, resulting in a ratio of about 1.05 job openings for every available worker.
Industries experiencing growth in job vacancies included:
- Manufacturing: +54,000 openings
- State and Local Government: +108,000 openings
- Professional and Business Services: +106,000 openings
Meanwhile, the number of employees voluntarily leaving their jobs surged to 3.36 million, an increase of 321,000 from August. This figure represents the highest level of resignations since March 2025 and serves as a key indicator of worker confidence in seeking new employment opportunities.
Heather Long, the Chief Economist at Navy Federal Credit Union, remarked, “There are more job openings than unemployed people in the United States right now. That doesn’t solve all problems, but it’s a big change from a year ago. It’s an encouraging sign that despite all the headwinds right now with high diesel and gas prices and ongoing inflation problems, companies are slowly increasing their hiring.”
In addition to the rise in job openings, hiring also experienced an upward trend, with total hires increasing by 131,000 to reach 5.4 million. Conversely, layoffs and discharges dropped by 127,000 to 1.64 million, the lowest level noted since March 2025.
This report is particularly timely, as it precedes the BLS’s nonfarm payrolls release scheduled for Friday. Market forecasts anticipate an increase of 59,000 jobs following a modest gain of just 29,000 in September, with the unemployment rate expected to remain steady at 4.2%.
Additionally, economic indicators for September showed a marked rise in factory orders for manufactured goods, which increased by 1.8%, exceeding the forecasted growth of 1.3% after a slight increase of 0.3% in August.
