The Job
Openings and Labor Turnover Survey (JOLTS) published by the Labor Department on
Tuesday showed a marginal drop (-0.4 percent m-o-m) in the U.S. job openings in
July.
According to
the report, employers posted 7.217 million job openings in July, compared to
the June figure of 7.248 million (revised from 7.348 million in original
estimate) and economists’ expectations of 7.300 million. The job openings rate
was 4.5 percent in July, down from an unrevised 4.6 percent in the prior month.
The report showed that the number of job openings was little changed for total
private and for government. The job openings level fell in wholesale trade
(-55,000 jobs) and in federal government (-11,000), but increased in
information (+42,000) and in mining and logging (+11,000).
Meanwhile, the
number of hires rose to 5.953 million in July from 5.716 in June. The hiring
rate was 3.9 percent, up from 3.8 in June. The number of hires edged up for
total private (+219,000) and was little changed for government. The hires level
was little changed in all industries.
The separation
rate in July was at 5.759 million or 3.8 percent, compared to 5.513 million or
3.6 percent in June. Within separations, the quits rate was 2.4 percent (+0.1 pp
m-o-m), and the layoffs rate was 1.2 percent (+0.1 pp m-o-m).
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