U.S. job openings fell 26.1% on a year-over-year basis in October to approximately 2.5 million, according to numbers released today by the U.S. Bureau of Labor Statistics. The job openings rate fell to 1.9% in October from 2.4% a year earlier.

The number of hires fell 11.6% in October to approximately 4.0 million from approximately 4.5 million in the same month last year. The hires rate fell to 3.0% in October from 3.3% a year ago.

Separations fell 14.4% in October to 4.2 million from 4.9 million in October 2008, and the separations rate fell to 3.2% from 3.6%. Separations include involuntary losses of jobs as well as voluntary departures from jobs such as quits and retirements.