Private-Sector Job Openings Rose in October While Quits Eased; Both Remain Very High

The latest Job Openings and Labor Turnover Survey from the Bureau of Labor Statistics shows the total number of job openings in the economy rose to 11.033 million in October, up from 10.602 million in September. The number of open positions in the private sector increased to 10.118 million in October, a new record high, up from 9.614 million in September (see first chart).

The total job openings rate, openings divided by the sum of jobs plus openings, rose to 6.9 percent in October from 6.7 percent in September while the private-sector job-openings rate surged to 7.4 percent, also a new record high, from 7.1 percent.

Four industry categories have more than 1.5 million openings each: education and health care (1.999 million), trade, transportation, and utilities (1.996 million), professional and business services (1.819 million), and leisure and hospitality (1.781 million).

The highest openings rates were in leisure and hospitality (10.3 percent), professional and business services (7.9 percent), education and health care (7.8 percent), manufacturing (7.4 percent), trade, and transportation, and utilities (6.7 percent; see second chart).