- Prior month 7.182 million
- JOLTs job openings for July 7.271M vs 7.300M estimate.
Details from the Bureau of Labor Statistics
- Job openings: Little changed at 7.3 million in July, with the openings rate steady at 4.4%. Durable goods manufacturing openings increased by 76,000.
- Hires: Little changed at 5.1 million, with a hiring rate of 3.2%. Professional and business services hiring fell by 188,000, a softer detail.
- Total separations: Little changed at 5.1 million, with a rate of 3.2%. No significant changes across industries.
- Quits: Little changed at 3.1 million, with the quits rate at 1.9%. Quits in other services declined by 46,000. Workers showed no increased willingness or ability to leave their jobs.
- Layoffs and discharges: Little changed at 1.7 million, with a rate of 1.0%. Finance and insurance layoffs declined by 22,000.
- Other separations: Essentially unchanged at 350,000, including retirements and other departures.
Overall, the report was broadly steady, with a few softer details. Hiring and quits showed no pickup, and the decline in professional and business services hiring stood out as a weakness. However, layoffs remained stable, providing no indication of an acceleration in job cuts. The labor market is holding its ground rather than gaining momentum.
The US jobs report will be announced on Friday at 8:30 AM ET.
This article was written by Greg Michalowski at investinglive.com.