US Job Openings Hit 7.5 Million in September

American workers found more available positions in September than in any month since May. The Labor Department reported that job openings climbed to 7.5 million, up from a revised 7.19 million in August. This figure represents the highest level of vacancies since May and marks a recovery from a recent low of 6.9 million in March.

The increase in openings now exceeds the total number of unemployed individuals. This marks a sharp reversal from a year ago, when more people were out of work than there were available jobs. The data comes from the Job Openings and Labor Turnover Survey, which also indicated that gross hiring rose while layoffs declined during the same period.

Heather Long, chief economist at Navy Federal Credit Union, described the data as an encouraging sign. She noted that companies are slowly increasing hiring despite high diesel and gas prices and ongoing inflation problems. However, she added that the trend must continue for several months to suggest real progress in the labor market.

Hiring has been sluggish for nearly three years, but layoffs have also remained historically low. This pattern indicates low churn in the labor market, meaning employed workers enjoy high job security. Conversely, it remains difficult for those seeking work to find a position. In September, layoffs fell sharply to 1.64 million, the fewest since March 2025.

The number of people quitting their jobs rose to 3.37 million, the highest level in about 18 months. This figure is up from 3.04 million in the prior period. Economists generally view a rise in quits as a positive indicator because workers typically leave a job only when they have another lined up or are confident they can find new work.

Job openings increased most in professional and business services, including engineering, accounting, and temporary industry roles. Manufacturers, shipping firms, and state and local governments also advertised for more workers. Nicole Bachaud, a labor economist at ZipRecruiter, warned that high inflation and increased interest rates since summer make it expensive for businesses to expand. She stated that these factors will likely continue to apply downward pressure on hiring until inflation cools.

The government will release the October jobs report on Friday. FactSet data projects that employers added 65,000 positions last month, an improvement from 29,000 in September. The unemployment rate is expected to remain at 4.2%. While 65,000 job gains would typically signal a struggling economy, the current demographic shift requires fewer new jobs to keep unemployment low. The baby boom generation is retiring, and immigration has dropped sharply, reducing the number of workers entering the labor force.