US job openings beat forecast at 7.523 million; quits rise to 3.4 million

• The previous month's reading was 7.079 million, revised up to 7.19 million.

The JOLTS job openings data in detail:

• Openings stood at 7.523 million, compared with 7.190 million and a gain of 333,000. The August figure was revised upward by 111,000 to 7.2 million.
• The openings rate was 4.5%.
• Hires totaled 5.402 million, versus 5.271 million, an increase of 131,000.
• Total separations came to 5.319 million, compared with 5.175 million, a rise of 144,000.
• Quits were 3.4 million, against 3.0 million in August, which was revised down by 22,000.
• Layoffs and discharges totaled 1.6 million, versus 1.8 million in August, a figure revised up by 127,000.
• The quits rate was 2.1%, and the layoffs and discharges rate was 1.0%.
• Private-sector openings reached 6.644 million, compared with 6.408 million, up 236,000.
• Government openings were 880,000, versus 782,000, an increase of 98,000.

According to the Bureau of Labor Statistics, US job openings came in at 7.5 million in September. The reading was higher than August's upwardly revised 7.2 million, though the BLS described the monthly move as little changed. Hiring and total separations were also little changed, a sign of a broadly stable labor market.

A more noteworthy shift was the rise in people choosing to leave their jobs. Quits climbed to 3.4 million, with accommodation and food services accounting for a 197,000 increase. Such movement can indicate more confidence about finding another job, though the fact that it was concentrated in one industry limits the broader signal. From a year earlier, quits were up 375,000.

State and local government excluding education saw openings rise by 104,000, while accommodation and food services recorded 158,000 new hires. Health care and social assistance recorded a 70,000 decline in layoffs. Overall layoffs were below August's revised level in numerical terms, but the BLS called the change little changed.

Which industries accounted for the job openings?

Professional and business services drove the gain in available positions, with openings up 106,000 to 1.310 million. State and local government excluding education contributed another 104,000 openings. The two categories together made up roughly 63% of the total monthly increase.

In manufacturing, openings climbed 54,000 to 584,000; construction openings were up 36,000 at 298,000. Those gains are encouraging signs for labor demand. Still, an advertised position is only a first step. Companies must convert those openings into actual hires.

Hiring presents a more mixed picture

Manufacturing highlights that gap. Even with openings on the rise, manufacturing hires dropped by 34,000 to 313,000. Professional and business services displayed a similar split: openings grew, while hires fell by 30,000 to 927,000.

Construction improved on both gauges: hiring increased by 49,000 to 356,000. Retail added 40,000 hires, reaching 704,000.

Accommodation and food services posted the largest hiring gain, with hires up 158,000 to 879,000. That increase by itself was larger than the economy-wide hiring gain of 131,000, which means the other industries combined saw a net decline in hiring.

Hospitality reflects turnover, not a clear hiring surge

Accommodation and food services also saw separations rise by 195,000 to 883,000. Departures thus edged above hires in September. Along with the earlier increase in quits, the data suggest considerable movement between jobs rather than a clear expansion in staffing.

Financial activities gave a softer reading. Openings dropped by 19,000 to 364,000, and hires fell by 12,000 to 156,000.

Quick analysis: The stronger openings number offers some support to labor-market bulls, but hiring is a more cautious gauge. Employers advertised more positions across several important industries without a corresponding rise in recruitment. That mixed picture could ease upward pressure on yields and the dollar stemming from the headline openings increase, and it offers the Fed a reason to assess the broader employment data.

What the report tracks: The Job Openings and Labor Turnover Survey (JOLTS) separates available jobs from actual hiring and employee departures. Separations take in voluntary quits, layoffs and other departures, so a rise does not by itself mean that more workers were dismissed. Monthly estimates by industry are open to revision, and numerical shifts are not necessarily statistically significant.