US Job Openings and Labor Turnover Summary for August

On Tuesday, the US Bureau of Labor Statistics (BLS) released the results of its Job Openings and Labor Turnover Survey (JOLTS) for August. As of the last business day in August, the number of job openings was 8.0 million. Year-over-year, the measure was down 1.3 million. The job opening rate was 4.8%, little changed from 4.6% in July.

The number and rate of hires changed little at 5.3 million and 3.3%, respectively.

The number of total separations was little changed at 5.0 million. The total separations rate decreased to 3.1%.

The number of quits trended down by 159,000 to 3.1 million, while the quits rate, at 1.9%, changed little.

The number and rate of layoffs and discharges changed little at 1.6 million and 1.0%, respectively.

The number of other separations in August was little changed at 304,000.

Establishments with 1 to 9 employees and establishments with 5,000 or more employees showed little or no change in job openings, hires, and separations rates.

Revisions

The number of job openings for July was revised up by 38,000 to 7.7 million; the number of hires was revised down by 105,000 to 5.4 million; and the number of total separations was revised down by 106,000 to 5.3 million. Within separations, the number of quits was revised down by 34,000 to 3.2 million, and the number of layoffs and discharges was revised down by 49,000 to 1.7 million.