The government's newest hiring report beat forecasts by a wide margin, but the details show why the job market can still feel slow from the inside.
Is the job market actually getting better?
Somewhat. Employers listed 7.52 million open jobs at the end of September, up 333,000 from August, and layoffs fell. But hiring only edged up, and most of the jump in quits came from restaurants and hotels. It's a better signal for job seekers, not proof that finding work just got easy.
The numbers come from the Job Openings and Labor Turnover Survey, or JOLTS, which the Bureau of Labor Statistics published at 10 a.m. Eastern on Tuesday, Nov. 3. It counts jobs employers are trying to fill, plus how many people were hired, quit or were let go. Because it covers September, it's about a month old on arrival, but it's the most detailed look we get at how workers and employers are moving.
Reuters reported that economists had expected only 7.1 million openings, so the result came in about 423,000 higher. August was also revised up, to 7.19 million from 7.079 million. If you read our report on August's job openings, that earlier 7.1 million figure has since changed.
The numbers that matter most
Here is how September compared with August, using the figures from Reuters and the BLS:
- Openings: 7.523 million, up from 7.19 million. The openings rate rose to 4.5% from 4.3%.
- Hires: 5.402 million, up 131,000. The hires rate rose to 3.4% from 3.3%.
- Quits: 3.365 million, up 321,000. The quits rate rose to 2.1% from 1.9%.
- Layoffs and discharges: 1.641 million, down 127,000, the lowest since March 2025.
One detail can look like a contradiction. The BLS described openings as "little changed," while Reuters and the Associated Press described a sharp jump. Both can be fair, since the BLS language is a statistical judgment about a survey with a margin of error, and news reports describe the size of the estimated move. The AP noted the level was the highest since May and well above a recent low of 6.9 million in March.
Why it may still feel hard to get hired
Openings and hires aren't the same thing. Employers made about 72 hires in September for every 100 jobs open at the end of the month. That's a rough comparison, but it shows how many listings don't turn into a job right away.
The industry details make that point clearer. Reuters said openings rose by 106,000 in professional and business services, yet hiring in that sector fell. Manufacturing added 54,000 openings, and hiring there fell too. Meanwhile, state and local government (excluding education) accounted for 104,000 of the new openings, and Reuters said nearly all of September's openings were at small businesses. Openings fell in financial activities, health care and social assistance, and leisure and hospitality.
Quits need a closer look as well. The BLS said quits rose by 197,000 in accommodation and food services alone. That's about six of every 10 added quits, in one industry where hires also rose by 158,000. So a good share of this move may be restaurant and hotel workers changing jobs, not a broad wave of office workers walking out. Reuters also said some quits could be tied to the immigration crackdown.
Still, the quits rate matters. Indeed's Hiring Lab said it topped 2% for the first time since June 2025, while adding that hiring and quitting remain unusually sluggish by historical standards. As economist Cory Stahle put it, "the labor market has remained fairly silent."
There were 1.06 openings for each unemployed person in September, up from 1.02 in August. Ben Ayers of Nationwide told Reuters that having more openings than unemployed workers suggests "some upward pressure on wages going into 2027." The AP was more cautious, saying the trend would have to continue for several months to suggest real improvement.
What this means for your wallet
If you're job hunting, the report gives you a reason to look beyond the biggest employers, since small businesses and local governments drove much of the increase. It also helps to treat a listing as a starting point, because more postings didn't mean more hires in every field. If your search has dragged on, it may be worth checking whether your target industry is one where hiring is actually rising.
If you have a job and are thinking about leaving, the number to study is your own. A switch can pay off, but the raise is rarely the whole story. Here is a simple example with made-up numbers: moving from $60,000 to a job paying 5% more adds $3,000 a year before taxes, or about $115 per biweekly paycheck. If you'd leave behind $1,500 in unvested employer 401(k) money, half of that first year's raise is gone. A new health plan could also restart your deductible partway through the year.
Before accepting anything, it may help to line up your new take-home pay, health premiums, matching rules and how long any gap between jobs would last. If you do get an offer, our guide to negotiating a job offer walks through how to ask without risking it.
The next check-in comes soon. The October jobs report is due Friday, and Reuters said economists expect 65,000 new jobs and an unemployment rate holding at 4.2%. That follows September's weak gain of 29,000, which we covered in our September jobs report. October's JOLTS report is scheduled for Dec. 1.
Frequently asked questions
What is the JOLTS report?
JOLTS stands for the Job Openings and Labor Turnover Survey. The Bureau of Labor Statistics publishes it monthly, and it estimates job openings, hires, quits and layoffs for the prior period.
Why do job openings matter if I'm looking for work?
Openings show how many jobs employers are trying to fill, so a rise can mean more chances to apply. They don't guarantee hiring, though, and in September some sectors added openings while their hires fell.
What is the quits rate?
It's the number of people who left jobs voluntarily, as a share of total employment. It rose to 2.1% in September from 1.9% in August.
When is the next JOLTS report?
The BLS has scheduled the October JOLTS report for Tuesday, Dec. 1, 2026, at 10 a.m. Eastern.
Sources
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Kiara Miller — Founder & Editor
Kiara Miller is the founder and editor of The Evergreen Edit. He has been doing independent finance research for two decades and reviews every article before it's published.
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