11/7: MetroIntelligence Economic Update by P. DUFFY

September job openings slip 3.8 percent, but still 1.25 million more openings than officially unemployed

The number of job openings edged down 3.8 percent to 7.0 million on the last business day of September, which was still 1.25 million more available jobs than the officially number of unemployed persons for the same month.  Throughout September, while hires rose 0.8 percent and separations rose 1.3 percent, quits fell 2.9 percent.

https://www.bls.gov/news.release/jolts.nr0.htm

 

October manufacturing index rebounds 0.5 points to 48.3, but sentiment remains cautious

The October PMI® registered 48.3 percent, an increase of 0.5 percentage point from the September reading of 47.8 percent.  Comments from the panel reflect an improvement from the prior month, but sentiment remains more cautious than optimistic. October was the third consecutive month of PMI® contraction, at a slower rate compared to September.

https://www.instituteforsupplymanagement.org/ismreport/mfgrob.cfm?SSO=1

 

October service sector index rebounds 2.1 points to 54.7

The October NMI® registered 54.7 percent, which is 2.1 percentage points above the September reading of 52.6 percent. The respondents continue to be concerned about tariffs, labor resources and the geopolitical climate.

https://www.instituteforsupplymanagement.org/ISMReport/NonMfgROB.cfm?SSO=1