US job vacancies drop to two-year low in October

investmentweek.co.uk:

The sectors with the biggest falls in vacancies in October were healthcare and social assistance (236,000); finance and insurance (168,000) and real estate and rental leasing (49,000).

This marked a drop of 617,000 vacancies and a rate of 5.3%, down 1.1 percentage points over the year, according to data from the Bureau of Labor Statistic released on Tuesday (5 December).

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The sectors with the biggest falls in vacancies in October were healthcare and social assistance (236,000), finance and insurance (168,000) and real estate and rental leasing (49,000). Job openings increased in the information sector instead, with a 39,000 rise in vacancies.

The Bureau found the number of hires has remained stable over the month at 5.9 million, representing a 3.7% rate. The number of hires has decreased in the accommodation and food services industry, however, down 110,000.

Quits, layoffs and discharges also remained steady throughout October 2023 at 5.6 million, with its rate also remaining unchanged at 3.6% for the fifth consecutive month.

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Separations increased for professional and business services (121,000), alongside quits in the same sector rising by 97,000.

The number of layoffs and discharges remained the same, the Bureau found, at 1.6 million, across industries.

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