The number of job openings rose to 7.744 million (a rate of 4.6 percent) in October, from a downwardly revised 7.372 million (4.4 percent) in September and compared to the expectation of 7.49 million in the Econoday survey of forecasters. Job openings fell by 941,000 compared to a year ago.

October hires were 5.313 million (3.3 percent), after 5.552 million (3.5 percent) in September, and were down by 501,000 compared to October 2023.

The data confirms the softer labor market trends so far for the second half of 2024, but without any cause for Federal Reserve officials to be alarmed.

The number of total separations was 5.261 million (3.3 percent) in October, vs 5.196 million (3.3 percent) in September. Within separations, quits were at 3.326 million (2.1 percent) after 3.098 million (1.9 percent) in September, while layoffs and discharges came in at 1.633 million (1 percent) following 1.802 million (1.1 percent) in September.

The labor market is expected to show job openings at a 7.490 million rate in October, up slightly from 7.443 million in September, as the job market remains remarkably resilient.

The Labor Department's JOLTS report tracks monthly change in job openings and offers rates on hiring and quits. The reporting period lags other employment data including the employment situation report. The word JOLTS stands for Job Openings and Labor Turnover Survey.

Although lagging the release timing of the employment situation report by a month, JOLTS provides additional information on the labor market. The payroll survey in the employment situation report provides numbers on net job changes. JOLTS breaks down labor market data into pre-net changes such as job openings, hires, and separations.