The number of job openings changed little at 9.6 million on the last business day of September, the U.S. Bureau of Labor Statistics reported today. Over the month, the number of hires and total separations changed little at 5.9 million…
Source: U.S. Bureau of Labor Statistics2 min read
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The number of job openings changed little at 9.6 million on the last business day of September, the U.S. Bureau of Labor Statistics reported today. Over the month, the number of hires and total separations changed little at 5.9 million and 5.5 million, respectively. Within separations, quits (3.7 million) and layoffs and discharges (1.5 million) changed little. This release includes estimates of the number and rate of job openings, hires, and separations for the total nonfarm sector, by industry, and by establishment size class.
Job Openings
On the last business day of September, the number of job openings changed little at 9.6 million, and the rate was unchanged at 5.7 percent. Over the month, job openings increased in accommodation and food services (+141,000) and in arts, entertainment, and recreation (+39,000). Job openings decreased in other services (-124,000), federal government (-43,000), and information (-41,000). (See table 1.)
Hires
In September, the number of hires changed little at 5.9 million, and the rate was 3.7 percent for the third month in a row. The number of hires changed little in all industries. (See table 2.)
Separations
Total separations include quits, layoffs and discharges, and other separations. Quits are generally voluntary separations initiated by the employee. The quits rate can serve as a measure of workers’ willingness or ability to leave jobs. Layoffs and discharges are involuntary separations initiated by the employer. Other separations include separations due to retirement, death, disability, and transfers to other locations of the same firm.
The number and rate of total separations in September changed little at 5.5 million and 3.5 percent, respectively. Over the month, the number of total separations decreased in state and local government education (-42,000) and in nondurable goods manufacturing (-37,000) but increased in federal government (+8,000). (See table 3.)
In September, the number of quits changed little at 3.7 million, and the rate was 2.3 percent for the 3rd consecutive month. The number of quits increased in information (+24,000) but decreased in state and local government, excluding education (-15,000). (See table 4.)
In September, the number and rate of layoffs and discharges changed little at 1.5 million and 1.0 percent, respectively. The number of layoffs and discharges decreased in state and local government education (-22,000). (See table 5.)
The number of other separations changed little in September at 352,000. (See table 6.)
Establishment Size Class
In September, the job openings, hires, and total separations rates changed little for establishments with 1 to 9 employees. The job openings rate decreased for establishments with 5,000 or more employees. (See table 7.)
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MortgageRates.news analysis · Historical context
The mortgage market around this release
This original analysis is separate from the source article. It compares observed benchmarks around ; historical averages and yields are not current mortgage offers.
Separate job openings from hiring
JOLTS measures unfilled openings on the last business day of a month, while hires and separations cover the whole month. Openings are not new payroll jobs. Read vacancies alongside hiring, quits and layoffs, and distinguish counts from rates and revised estimates. These measures add detail about labor demand and turnover to the policy discussion. The benchmark window below describes borrowing conditions around publication; it cannot attribute a rate change to this report. BLS Job Openings and Labor Turnover Survey.
Nearest published observation on or before each target date
Calendar references, not an intraday reaction. A same-day market observation may have been published after a morning release. These figures do not show what was known at its exact publication time. One basis point (bp) is 0.01 percentage point; changes use the actual dated observations shown.
Dots show published observations only. Missing dates remain blank, with no interpolation. The series have different publication schedules and measure different markets.
What that benchmark difference would mean for a $300,000 loan
At the publication reference$2,157.54/month
7.79% · Oct 26, 2023
At the later reference$2,040.43/month
7.22% · Nov 30, 2023
The illustrative principal-and-interest payment is $117.11 lower per month. This holds the loan amount and term constant to show the arithmetic effect of the benchmark difference.
Assumptions: two separate hypothetical $300,000 loans, each fully amortizing over 30 years with 360 monthly payments and its stated fixed interest rate. Excludes points, lender fees, taxes, insurance, association charges and other costs. PMMS is a national average, not an APR or a personalized rate offer. These are not two payments on one existing loan.
Sources, historical coverage and calculation limits
Freddie Mac Primary Mortgage Market Survey®: available observations from Apr 2, 1971 through Nov 5, 2026. Cached history snapshot. History retrieved or verified Nov 11, 2026.
U.S. Department of the Treasury: available observations from Jan 4, 2016 through Nov 10, 2026. Cached history snapshot. History retrieved or verified Nov 11, 2026.
The 30-day comparisons use calendar days. Each cell selects the last published observation on or before its target; no rates are synthesized for missing dates. Gaps greater than seven days for daily Treasury data or fourteen days for weekly mortgage data are marked unavailable. Forward comparisons require the date to have arrived and source coverage to extend through it.
Historical files may contain revisions and do not reconstruct precisely what every market participant knew at the time. Freddie Mac changed its PMMS collection methodology in November 2022. Cross-period comparisons should account for that change. These windows include other news and cannot establish causation or forecast the next rate move.