U.S. Job Openings Rise in October, Hiring Slows

Labor market shows signs of stabilization with increased job openings and record-low layoffs, despite disruptions from hurricanes and strikes.

Job openings increased by 5% to 7.7 million in October, recovering from a 3.5-year low in September, but remain below last year’s 8.7 million level.
Layoffs dropped to 1.6 million, the lowest in over two decades outside of the pandemic period, signaling a stable labor market.
The number of workers quitting their jobs rose to 3.4 million, reflecting growing confidence in finding better opportunities.
Hiring slowed to 5.3 million, attributed to disruptions from hurricanes and a major Boeing strike, marking the lowest monthly job additions since 2020.
Economists expect a rebound in November's job growth, with predictions of 200,000 to 210,000 new jobs, as the Federal Reserve monitors labor trends for potential rate decisions.