The delayed October and September JOLTS data both come in stronger than expected, providing some reassurance about the state of employment, easing fears about a rapid deterioration in labor market conditions. This is unlikely to prevent another interest rate cut by the Federal Reserve this week but provides more reason for the central bank to return to a holding pattern afterwards for the near future.

The number of job openings rose slightly to 7.670 million (4.6 percent) in October, from 7.658 million (4.6 percent) in September this data was also delayed by the government shutdown and compared to the expectation of 7.200 million in the Econoday survey of forecasters. Job openings are up by 55,000 compared to a year ago.

October hires were 5.149 million (3.2 percent), after 5.367 million (3.4 percent) in September, and were lower by 201,000 compared to October 2024.

The number of total separations was 5.050 million (3.2 percent) in October, vs 5.264 million (3.3 percent) in September. Within separations, October quits were at 2.941 million (1.8 percent) after 3.128 million (2.0 percent) in September, while layoffs and discharges came in at 1.854 million (1.2 percent) following 1.781 million (1.1 percent) in September.

Job openings seen flat at 7.20 million.

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.