WASHINGTON — US employers advertised 7.52 million job openings at the end of September 2026, a sharp and unexpected increase that suggests the American labour market was on firmer footing than many economists had assumed, even as overall job gains remained modest, according to the Bureau of Labor Statistics (BLS).
The Job Openings and Labor Turnover Survey (JOLTS), released on Tuesday, November 3, 2026, showed openings rose by 333,000 during September to 7.523 million, the highest level since May. Economists polled by Reuters had forecast 7.100 million openings. Data for August was revised higher to 7.190 million vacancies, from the previously reported 7.079 million.
Illustration: A busy office hiring scene, with employers advertising open roles to job applicants.
What Happened
The JOLTS report measures labour demand — how many positions employers are actively trying to fill — alongside hiring, quits and layoffs. All three of the survey's main activity measures moved in the same encouraging direction in September: openings rose, hiring increased and quits climbed, while layoffs fell.
Hiring increased by 131,000 to 5.402 million in September, lifting the hires rate to 3.4 percent from 3.3 percent in August. The number of workers who voluntarily quit their jobs rose to 3.365 million, from 3.044 million in August, pushing the quits rate to 2.1 percent from 1.9 percent. Economists read quits as a sign of worker confidence, since people are usually more willing to leave a job when they believe another one is available.
Layoffs and discharges, meanwhile, fell by 127,000 to 1.641 million, with the layoff rate easing to 1.0 percent from 1.1 percent. That was the lowest layoff total since March 2025, according to reports of the release. Total separations stood at 5.319 million, a rate of 3.3 percent.
The job openings rate — vacancies as a share of employment plus openings — rose to 4.5 percent from 4.3 percent in August. Openings increased in state and local government excluding education, by 104,000, according to the BLS breakdown reported after the release. The ratio of openings to unemployed workers rose to about 1.1, from 1.0 in August, as the surplus of openings over unemployed workers widened to about 414,000.
Illustration: Workers heading to new jobs at sunrise, a picture of rising worker confidence.
Background
The September JOLTS report landed in a week crowded with labour-market evidence. Nonfarm payrolls had increased by just 29,000 jobs in September, the BLS reported in early October, while the unemployment rate was little changed at 4.2 percent. A Reuters survey of economists expects payrolls to have advanced by 65,000 in October, with the unemployment rate forecast to hold at 4.2 percent, when the October jobs report is published on Friday, November 6.
The broader economy has shown surprising resilience. The US economy grew at a 3.4 percent annualised rate in the third quarter of 2026, accelerating from 2.2 percent in the second quarter, while domestic demand surged at its strongest pace in more than five years. Manufacturing has expanded for ten consecutive months: the Institute for Supply Management (ISM) said its manufacturing purchasing managers' index rose to 55.5 in October from 54.5 in September, beating forecasts, with production climbing to 59.0, its highest level since November 2021.
Yet price pressures have not gone away. The ISM prices index eased to 75.2 in October from 77.9 in September but has now risen for 25 consecutive months, and the personal consumption expenditures price index rose 3.6 percent year on year in September, with core inflation at 3.1 percent — both well above the Federal Reserve's 2 percent target. The Federal Reserve held interest rates unchanged at 3.75 percent to 4.00 percent at its October meeting, in a 10–2 vote, with two policymakers favouring an immediate quarter-point increase.
Reuters also noted a caveat on the JOLTS data itself: the survey has been affected by a low response rate, which has fallen considerably from the pre-pandemic period. Economists quoted by Reuters described the labour market as continuing to be in a "low-hire, low-fire" state, with strong profits and resilient domestic demand keeping layoffs near historic lows, even as the ongoing US-Israeli war with Iran makes some employers hesitant to boost hiring.
Why It Matters
The September figures complicate the story of a cooling American jobs market. For months, hiring had looked sluggish even though layoffs stayed low — a combination that left workers relatively safe in their jobs but made it harder for jobseekers to find new ones. A jump in openings, together with more hiring and more quits, points instead to a market that became a little more dynamic in September, with employers competing harder for workers.
That matters for wages and for interest rates. If workers feel confident enough to quit in larger numbers, employers may have to raise pay to keep staff, which can feed into inflation at a moment when the Federal Reserve is already worried about prices. Markets were assigning roughly a 72 percent probability to a December rate increase after the Fed's October decision, and the stronger-than-expected openings data is unlikely to ease that pressure.
The data also matters for households. Openings at 7.52 million, the highest since May and up from a recent low of 6.9 million in March, suggest job opportunities widened in September rather than narrowed — welcome news for workers, even if the September payroll gain of 29,000 showed that advertised openings do not instantly become filled jobs.
Illustration: A modern factory floor in production as US manufacturing expands.
What Happens Next
The next major test comes on Friday, November 6, when the BLS publishes the October employment report, including nonfarm payrolls, the unemployment rate and average hourly earnings. Economists expect a payroll gain of about 65,000 and an unchanged unemployment rate of 4.2 percent, according to the Reuters survey cited in coverage of the JOLTS release.
Investors will also watch factory orders and the services surveys due this week, plus the Federal Reserve's December meeting on December 8–9, where a quarter-point rate increase is now widely seen as the likely next move. The October JOLTS report, due on December 1, will show whether September's jump in openings was the start of a trend or a one-month bounce.
For now, the September data offer a cautiously brighter picture: more jobs on offer, more people hired, more workers confident enough to move — and fewer people losing their jobs. Whether that momentum survives the final months of 2026 is the question Friday's jobs report will begin to answer.
Sponsored: explore today's featured sponsored offers
FAQ
What is the JOLTS report?
JOLTS stands for the Job Openings and Labor Turnover Survey, published monthly by the US Bureau of Labor Statistics. It tracks job openings, hires, quits, layoffs and total separations, and is watched as a gauge of labour demand.
How many US job openings were there in September 2026?
Job openings rose by 333,000 to 7.523 million at the end of September 2026, the highest level since May, beating the 7.100 million forecast by economists polled by Reuters.
Did hiring and quits also rise?
Yes. Hiring increased by 131,000 to 5.402 million, and quits rose to 3.365 million, lifting the quits rate to 2.1 percent from 1.9 percent — a sign of growing worker confidence.
What happened to layoffs?
Layoffs and discharges fell by 127,000 to 1.641 million, with the layoff rate easing to 1.0 percent — the lowest layoff total since March 2025.
What comes next for the US labour market?
The October employment report is due on Friday, November 6, with economists expecting payrolls to rise by about 65,000 and unemployment to hold at 4.2 percent. The October JOLTS report follows on December 1.
Sources
- Reuters, "US job openings increase sharply in September," November 3, 2026.
- US Bureau of Labor Statistics, Job Openings and Labor Turnover Survey, September 2026, released November 3, 2026 (via Reuters and TradingView News summaries).
- Reuters via Kitco News, "US manufacturing picks up in October; input prices stay high," November 2, 2026.
- FXCM Markets, "Global Macro and Markets Briefing — 02 November 2026" (Federal Reserve October decision, Q3 GDP, PCE inflation).
- IEN / Fast Company, "US Job Postings Jumped Sharply in September," November 3, 2026.
Comments
Post a Comment