September job openings rose to 7.52m against 7.16m expected, with the quits rate up to 2.1% and layoffs lower. Treasury also dropped "at least" from its auction-size guidance, which points to bigger coupon sales in 2027.
Jason Furman’s econvitals series puts this week’s JOLTS print back on the pre-pandemic Beveridge curve after the early-recovery stretch of unusually high vacancies for any given unemployment rate. Source
The September Job Openings and Labor Turnover Survey (JOLTS) put openings at 7.523m against a 7.16m forecast, with the 7.190m prior revised up, the Bureau of Labor Statistics (BLS) reported. The BLS called openings "little changed". The flows beneath the headline say more. Quits rose to 3.365m, lifting the quits rate to 2.1% from 1.9%. Layoffs and discharges fell to 1.641m from 1.768m, and the layoff rate eased to 1.0%. Treasuries sold off on the print.
