Small workplaces posted 3.6 million job openings in September, up 20% in a year
Establishments with fewer than 50 workers are hiring harder and losing more people to quits, months after small firms shed jobs on net, according to two new BLS releases.
By Raymond de Clairmont · · 3 min read
Employers nationwide had 7.5 million job openings in September, little changed from August, the Bureau of Labor Statistics said Nov. 3 [1]. Small workplaces moved the most. The job openings rate at establishments with 1 to 9 employees rose to 5.7% from 5.0% a year earlier [1].
Workers are quitting small employers more often
Quits rose by 375,000 over the year to 3.4 million [1]. At establishments with 10 to 49 workers, the quit rate climbed 0.8 points, while layoffs at the smallest workplaces fell to 0.5% of employment [1]. Midsize workplaces went the other way, with openings at those with 50 to 249 workers down to 1,555,000 from 1,993,000 [1].
| Establishment size | Openings, Sept 2025 | Openings, Sept 2026 | Quit rate, 2025 to 2026 | Layoff rate, 2025 to 2026 |
|---|---|---|---|---|
| 1 to 9 employees | 1,064,000 | 1,388,000 | 1.8% to 2.2% | 1.4% to 0.5% |
| 10 to 49 employees | 1,915,000 | 2,191,000 | 1.8% to 2.6% | 1.3% to 1.4% |
| 50 to 249 employees | 1,993,000 | 1,555,000 | 2.5% to 2.5% | 1.2% to 1.1% |
Small firms lost jobs on net early in 2026 while big firms grew
BLS Business Employment Dynamics data released Oct. 28 cover the first quarter of 2026 [2]. Private employers gained 7.4 million jobs and lost 7.3 million, and 323,000 new establishments opened with 949,000 jobs [2]. Jobs at opening establishments, 1,481,000, barely outran the 1,464,000 lost at establishments that closed [2].
How to use this
For small business owners
- Budget for turnover as a cost line. The quit rate at workplaces with 10 to 49 workers reached 2.6% a month [1], and we calculate that a 20-person shop at that rate loses about six people a year.
- Write your raise and review schedule down and share it with staff. A net 28% of NFIB owners raised compensation in the last three months [3], so workers at small firms have other offers to compare with yours.
- Post openings with pay ranges. Small establishments now carry about 3.58 million openings [1], and NFIB found 51% of owners were hiring or trying to hire [3].
For landlords who lease to small businesses
- Ask service tenants about staffing when they request reduced hours or a rent deferral. Openings at workplaces under 10 workers rose about 30% in a year, we calculate [1], and a tenant short on staff can lose sales well before it misses a rent payment.
- In metro Portland, payroll jobs were down 0.63% from a year earlier in September [4]. Owners there can check tenants’ sales reports more often than once a year, since a falling local job count and rising small-firm quits [1] could both mean tighter operating margins for service tenants.
For investors
- Weight tenant rosters toward larger operators when you underwrite. Firms with 250 or more workers added 255,000 net jobs in the first quarter while those under 50 lost 67,000 [2], which suggests national and regional tenants are in a stronger hiring position.
- Compare establishment openings with closings each quarter for the metros you own in. In the first quarter, jobs at new establishments exceeded jobs lost at closing ones by only about 17,000 nationally, we calculate [2], so a small change in closings could turn that figure negative.
This is market commentary, not investment advice.
Sources
- [1]U.S. Bureau of Labor Statistics, Job Openings and Labor Turnover Summary, September 2026, and Table 7, Nov 3, 2026.
- [2]U.S. Bureau of Labor Statistics, Business Employment Dynamics, First Quarter 2026, Oct 28, 2026.
- [3]National Federation of Independent Business, Small Business Economic Trends, September 2026, Oct 13, 2026.
- [4]U.S. Bureau of Labor Statistics, Current Employment Statistics, metropolitan area total nonfarm, September 2026 (not seasonally adjusted), Oct 2026.
