US Job Openings and Labor Turnover Summary for August

On Tuesday, the US Bureau of Labor Statistics (BLS) reported that the number of job openings was little changed in August at 7.2 million, with the job openings rate at 4.3%. Openings fell in construction (–115,000) and in the federal government (–61,000).

The number of hires was 5.1 million, representing a 3.2% rate. Total separations were 5.1 million (3.2%). Within separations, quits were 3.1 million (0.9%), layoffs and discharges were 1.7 million (1.1%), and other separations were 295,000.

By establishment size, both small businesses (1–9 employees) and large employers (5,000 or more employees) saw little or no change in job openings, hires, and separations rates.

Monthly Revisions

Revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors.

Revisions to July estimates show job openings were revised up by 27,000 to 7.2 million. Hires were revised down by 68,000 to 5.2 million, while total separations were revised down by 68,000 to 5.2 million. Within separations, quits were revised down by 42,000 to 3.2 million, and layoffs and discharges were revised down by 21,000 to 1.8 million.