U.S. Job Openings Slipped to 7.1 Million in August but Labor Market Remains Sturdy
Layoffs fell and quits were little changed as openings came in below the 7.2 million forecasters expected, the Labor Department said.
- On Tuesday, the Labor Department reported U.S. job openings slid to 7.08 million in August from a revised 7.34 million in July, signaling a cooling labor market.
- Despite an energy shock from the war with Iran, the American labor market remains sturdy; layoffs fell and quit rates stayed stable in August, per the Job Openings and Labor Turnover Survey .
- A survey of forecasters by FactSet projects the unemployment rate likely stayed at 4.1%, though hiring remains well below the 166,000 monthly average recorded in 2023 and 2024.
- The Labor Department's upcoming Friday report is expected to show the United States added 95,000 jobs in September, down from 162,000 in August.
- Employers have added an average 80,000 jobs a month so far this year, reflecting a pattern where businesses avoid layoffs but hire fewer workers than during the post-COVID boom.
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49 Articles
US employment data August: Job openings fall, layoffs decline as labour market holds steady
Job openings, a measure of labour demand, fell by 256,000 to 7.079 million on the last day of August, the US Labor Department’s Bureau of Labor Statistics said in its Job Openings and Labor Turnover Survey (JOLTS) report on Tuesday.
US job openings slipped to 7.1 million in August but labour market remains sturdy
US employers posted fewer job vacancies in August, but the broader American labour market remains resilient against price shocks caused by the fighting in Iran. Openings came in below the 7.2 million expected by forecasters. Layoffs as well as the number of people quitting their jobs also fell. Employers have added an average of 80,000 jobs a month so far this year. The next jobs report is set for Friday.
The number of open jobs in the United States economy fell to 7.1 million in August, from 7.3 million in July, according to data from the Job Openings and Labor Turnover Survey (Jolts) report, released this Tuesday by the Department of Labour. The market projection was a reading of 7.2 million. Exclusive material for subscribers. To have full access, access the link of the subject and register.
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