U.S. Hiring Dips, Job Openings Soar first appeared on Floating Path.
U.S. job openings increased in August to 4.835 million from 4.605 million in July. Hires decreased to 4.640 million from 4.934 million.
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The number of unemployed workers per job opening increased to 1.98 from 2.10.
There were 4.440 million separations in August. Quits decreased to 2.473 million from 2.547 million, layoffs and discharges decreased to 1.580 million from 1.726 million, and other separations increased to 0.387 million from 0.356 million.
The ratio of quits to layoffs and discharges increased to 1.57 from 1.48, which is a positive sign and indicates people are more comfortable leaving their jobs.
Subtracting total separations from hires, net labor turnover for the month is suggested to be an increase of 200k jobs.
That 200k is slightly higher than the 180k non-farm payrolls added as reported in the employment situation release.
The Beveridge Curve shows the relationship between the unemployment rate and the job openings rate (job openings as a percentage of the total employed plus job openings).