U.S. Job Openings Rise Above Forecasts, But Workers Less Willing to Quit — Evening Brief – 09.30.25  

The U.S. labor market showed a mix of resilience and cooling momentum in August, according to the latest Job Openings and Labor Turnover Survey (JOLTS) from the Bureau of Labor Statistics. Job openings rose slightly to 7.227 million, up from July’s revised 7.208 million and above the consensus estimate of 7.110 million, keeping the openings rate steady at 4.3%. This suggests that demand for labor remains elevated relative to pre-pandemic norms.  

However, other indicators point to a market that is gradually easing. The quits rate slipped to 1.9%, down from 2.0% in July and now at its lowest level since the pandemic recovery began, signaling that workers are more reluctant to leave their current jobs amid a climate of reduced hiring opportunities. 

Hiring activity also slowed, with 5.126 million hires in August compared with 5.240 million in July, bringing the hiring rate down to 3.2% from 3.3%. The moderation highlights employer caution in expanding payrolls, even as job postings remain plentiful. On the separation side, conditions were more stable: layoffs declined modestly to 1.725 million from 1.787 million in the prior month, while the layoff rate held steady at 1.1%, reflecting an environment where companies are reluctant to add new staff but also unwilling to shed existing employees given ongoing talent shortages. 

Industry-level details revealed notable divergences. Construction openings fell by 115,000, likely reflecting headwinds from housing affordability and a slowdown in new project starts, while federal government openings dropped by 61,000, consistent with seasonal and budgetary factors. These declines were offset by steadier or slightly higher demand in sectors such as healthcare, professional services, and leisure and hospitality, which continue to anchor labor demand in the service economy.  

Overall, the JOLTS data reinforces the picture of a labor market that, while no longer running at the unsustainably tight levels of 2021–22, remains resilient, with job openings still high but hiring and quits trending lower as workers and employers alike act with greater caution.