US job openings rise to 7.5 million in September as more workers quit

US employers had about seven and a half million open jobs at the end of September. The Bureau of Labor Statistics, the BLS, said the job openings rate was four and a half percent. That was little changed from August, but above what economists had expected. More workers quit their jobs, close to three and a half million, which usually means people feel confident they can find new work.

Hires were about 5.4 million and layoffs about 1.6 million, both little changed. The August figure for openings was revised up to 7.2 million. Treasury yields rose after the release, together with stronger factory orders data. For the Federal Reserve the report points to a labour market that is cooling only slowly, which makes a fast cut in rates less likely.