US Job Openings and Labor Turnover Summary for July

On Wednesday, the US Bureau of Labor Statistics (BLS) released the results of its Job Openings and Labor Turnover Survey (JOLTS) for July. As of the last business day in July, the number of job openings was 7.7 million. Year-over-year, the measure was down 1.1 million. The job opening rate was little changed at 4.6%.

The number and rate of hires changed little at 5.5 million and 3.5%, respectively.

The number of total separations increased to 5.4 million, up 336,000, and the rate changed little at 3.4%.

The number of quits was little changed at 3.3 million but was down 338,000 year-over-year. Over the month, the quits rate changed little at 2.1%.

The number of layoffs and discharges increased to 1.8 million, and the rate increased to 1.1%.

The number of other separations increased to 381,000, up 71,000 from June.

For establishments with 1 to 9 employees, the quits rate decreased, while the layoffs and discharges rate increased. The job openings rate, hires rate, and total separations rate changed little. For establishments with 5,000+ employees, the job openings, hires, total separations, quits, layoffs, and discharges rates showed little or no change.

Revisions

The number of job openings for June was revised down by 274,000 to 7.9 million; the number of hires was revised down by 93,000 to 5.2 million; and the number of total separations was revised down by 11,000 to 5.1 million. Within separations, the number of quits was revised down by 68,000 to 3.2 million; and the number of layoffs and discharges was revised up by 62,000 to 1.6 million.