Job openings in the month of October saw an increment in the US while hiring dipped, says a labour report.
The month saw the lowest payrolls growth in four years according to the Bureau of Labour Statistics or BLS. While the total job openings was 7.74 million, about 3,72,000 more than September, the rate of job openings as a share of the labour force rose from 4.4 per cent to 4.6 per cent.
Hiring showed a reduction owing to disruptions by storms in some regions and labour unrest in some. Only 5.31 million people were hired in total, which brought the hiring rate down to 3.3 per cent, a drop of 0.2 percentage point.
The number of layoffs dropped to 1.63 million, which was 169,000 less than September layoff numbers. Also, voluntary attrition was 228,000 more than in September, rising to 3.33 million. That means more people quit their jobs, reflecting that they were confident of the job market and landing an alternative job.
As per BLS data, non-farm payroll growth was merely 12,000, the lowest since December 2020.
November was witness to a sharp rise in job openings in the professional and business services space. That means there were more vacancies for managers, engineers, accountants, as well as personnel in the hospitality space and information technology sector.
The joblessness rate stands at 4.1 per cent, although job gains slowed down in October, as per the monthly jobs report.
