BLS: Job Openings "Little Changed" at 7.1 Million in August

Notes: In August there were 7.051 million job openings, and,
according to the August Employment report, there were 6,044 million
unemployed. So, for the eighteenth consecutive month, there were
more job openings than people unemployed. Also note that the number
of job openings has exceeded the number of hires since January 2015
(almost 5 years).

From the BLS: Job Openings and
Labor Turnover Summary

The number of job openings was little changed at 7.1
million
on the last business day of August, the U.S. Bureau of
Labor Statistics reported today. Over the month, hires edged down
to 5.8 million and separations were little changed at 5.6 million.
Within separations, the quits rate was little changed at 2.3
percent, and the layoffs and discharges rate was unchanged at 1.2
percent. …

The number of quits decreased in August to 3.5 million
(-142,000). The quits rate was 2.3 percent. The quits level
decreased for total private (-144,000) and was little changed for
government. Quits decreased in professional and business services
(-76,000) and in other services (-67,000).
emphasis added

The following graph shows job openings (yellow line), hires (dark
blue), Layoff, Discharges and other (red column), and Quits (light
blue column) from the JOLTS.

This series started in December 2000.

Note: The difference between JOLTS hires and separations is similar
to the CES (payroll survey) net jobs headline numbers. This
report is for August, the most recent employment report was for
September.

Job Openings and Labor Turnover Survey Click on graph for larger image.

Note that hires (dark blue) and total separations (red and light
blue columns stacked) are pretty close each month. This is a
measure of labor market turnover.  When the blue line is above the
two stacked columns, the economy is adding net jobs – when it is
below the columns, the economy is losing jobs.

Jobs openings decreased in August to 7.051 million from 7.174
million in July.

The number of job openings (yellow) are down
4% year-over-year.

Quits are up 1.5% year-over-year. These are voluntary separations.
(see light blue columns at bottom of graph for trend for
“quits”).

Job openings remain at a high level, and quits are still increasing
year-over-year. This was a solid report.
Source: FS – All – Real Estate News 2
BLS: Job Openings "Little Changed" at 7.1 Million in August