FILE - A construction worker walks on scaffolding at a building site on Sept. 4, 2024, in Waukee, Iowa. WASHINGTON — The number of job postings in the United States rebounded in October from a 3 1/2 year low in September, a sign that businesses are still seeking workers even though hiring has cooled.. The increase suggests that job gains could pick up in the coming months. Still, the latest figure is down significantly from 8.7 million job postings a year ago.
The number of people quitting their jobs rose in October, a sign of confidence in the job market. And layoffs tumbled to just 1.6 million — below the lowest figures in the two decades that preceded the 2020 pandemic. Tuesday’s figures mean there are now 1.1 available jobs for each unemployed worker, a healthy figure. Before the pandemic there were usually more unemployed people than openings.
Tuesday’s report, known as the Job Openings and Labor Turnover Survey, or JOLTS, showed that overall hiring slowed in October. Total hiring slipped to 5.3 million from 5.6 million, though that decline reflected hurricane-related disruptions.