ENLABOR MARKETS & BUSINESS PLANNING · SEPTEMBER 30, 2026
Job Openings Hold at 7.1 Million as Small-Firm Openings Rate Falls
BLS reported 7.1 million job openings, 5.2 million hires, and 5.1 million total separations in August; the job-openings rate decreased for establishments with one to nine employees.
What BLS reported on September 29
Source publication date: September 29, 2026. The Bureau of Labor Statistics reported that job openings were little changed at 7.1 million in August, with a 4.3% openings rate. Hires changed little at 5.2 million, total separations were 5.1 million, quits were 3.1 million, and layoffs and discharges were 1.6 million. JOLTS is a national survey and does not predict hiring conditions for a specific borrower, industry, occupation, or market.
- 015.2M hires
- 025.1M separations
- 03Smallest firms' openings rate fell
The smallest establishment class saw a lower openings rate
BLS said the job-openings rate decreased in August for establishments with one to nine employees, while their hires, quits, layoffs and discharges, and total-separations rates showed little or no change. Industry estimates showed 251,000 construction openings and 522,000 manufacturing openings, both lower than July estimates, while the release characterized industry changes overall as little changed. Monthly estimates are preliminary and may be revised.
Why the release matters to underwriting
Labor conditions can affect revenue capacity, wage expense, training cost, overtime, customer service, project timing, and the speed at which financed expansion generates cash. A national openings count cannot establish a company’s staffing plan. Lenders are more likely to focus on actual headcount, compensation, vacancies, turnover, backlog, productivity, management depth, and the timing of payroll relative to expected revenue.
Practical borrower takeaway
Update the forecast with positions, start dates, wages, benefits, recruiting cost, training time, overtime, and realistic productivity ramp. Reconcile projected headcount to current payroll and explain why each hire is needed. Stress-test slower hiring, higher compensation, and delayed revenue, then show how unrestricted liquidity and operating cash flow support debt service before the expansion reaches plan.
Borrowers should build hiring and payroll assumptions from their current pipeline and local labor market, then test debt service if vacancies take longer to fill or revenue growth arrives more slowly than staffing costs.
Discuss a financing need →This independent summary is based on the cited source and is provided for general educational purposes only. Terms and program requirements may change.