The latest Job Openings and Labor Turnover Survey (JOLTS) from the U.S. Bureau of Labor Statistics was released for the month of October 2024. The headline job openings figure increased to 7,744,000 openings, compared to 7,372,000 (revised) in September 2024.
The chart below breaks down the job openings by industry in October 2024. The sector Professional & Business Services had the most job openings at 1,650,000 in October 2024, followed by Education and Health Services at 1,481,000 and Leisure and Hospitality at 1,115,000.
Total Nonfarm Quits has been a key metric for tracking how workers feel about the job market. In brief, a higher rate of workers quitting would suggest that workers feel confident in their ability to find another job.
In October 2024, the Quits Rate was 2.1%, down from the peak at 3.0% in November 2021 and in April 2022.
The last two charts outline Total Nonfarm Quits by sector. The Quits Rate increased month-over-month for the following sectors in October 2024: Accommodation & Food Services, Leisure & Hospitality, Professional & Business Services, Education & Health Services, and Construction.
The Quits Rate decreased month-over-month for the following sector: Retail Trade.
