US job openings jump in September as layoffs fall to 1.5-year low
US job openings rose to 7.523 million in September while layoffs dropped to their lowest since March 2025, according to Reuters reporting on Labor Department data.
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what happened
The Labor Department said on Tuesday that job openings climbed by 333,000 in September to 7.523 million, above the 7.100 million that economists polled by Reuters had expected. The ratio of openings to unemployed people rose to 1.06 from 1.02 in August.
Layoffs fell by 127,000 to 1.641 million, the lowest level since March 2025. Hiring rose by 131,000 to 5.402 million, and quits climbed to 3.365 million, the highest since March 2025 and the largest monthly increase since May 2023. Nonfarm payrolls grew by only 29,000, which economists linked to a calendar quirk.
Economists describe the labor market as being in a low-hire, low-fire state. Oxford Economics expects the Federal Reserve to keep focusing on inflation and to deliver rate hikes at its December and March meetings. The Fed's benchmark overnight rate currently sits in a 3.75%-4.00% range.
why it matters
Firm demand for workers and inflation linked to the conflict with Iran give the Fed more room to tighten policy. That supports Treasury yields and the dollar, and strengthens expectations for higher rates, so traders will watch the next payrolls and inflation reports closely.
market impact
US Treasuries and dollar: strong labor data raises expectations of Fed rate hikes
- US Treasury yields pressure up — stronger labor demand raises expectations of tighter Fed policy
- US dollar pressure up — higher rate expectations make dollar assets more attractive
tags
instruments
sources
- US job openings jump in September; layoffs lowest in 1-1/2 years — Reuters, 3 November 2026 at 18:44 UTC
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