#jobs

Job openings rose by 333,000 in September to 7.52 million, well above the 7.15 million economists expected, the Bureau of Labor Statistics reported on Tuesday, November 3. Quits rose to 3.36 million, the most since March 2025, and there were about 1.05 openings for every unemployed worker.

On Wednesday, payroll processor ADP said private employers added 86,000 jobs in October, the same as September's revised figure and above the 75,000 expected. Professional and business services lost 27,000 jobs; people who changed jobs saw 4.8% annual pay gains.

On Thursday, Richmond Fed President Thomas Barkin told CNBC he expects the Fed will need to raise rates further, at a gradual pace, saying inflation is 'the most important risk right now' and that AI is pushing some prices up. The Fed held its benchmark rate at 3.75% to 4% at its last meeting after a hike in September. The official October payrolls report is due Friday, after this issue's window.

On October 26, Microsoft's chief people officer, Amy Coleman, announced a voluntary exit offer for about 60,000 employees, roughly 27% of the global workforce, in the US, UK, Canada and India, the AP reports. Microsoft had about 223,000 full-time employees at the end of June and cut 4,800 jobs in July.

Two days later Microsoft reported fiscal first-quarter revenue up 19% and diluted earnings of $4.92 a share, up 32%. Microsoft Cloud revenue was $63.9 billion, up 30%, and commercial remaining performance obligation rose 73% to $677 billion, according to the company. CNBC reports Azure grew 48% and finance chief Amy Hood guided to 49% to 50% growth next quarter.

Capital expenditures and finance leases were $45.2 billion, below the $50.67 billion analysts expected; Hood said some third-party capacity deliveries were delayed. Free cash flow fell 27% to $18.63 billion but stayed positive. The stock rose 2% to 4% after hours but ended the next day roughly flat.