U.S. job openings increase marginally in July

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).