Number of job openings in US reach around 7.67M in July
(MENAFN) In July, the number of job openings in the United States reached approximately 7.67 million, according to data released by the labor Department on Wednesday. This figure was notably lower than the market expectation of 8.09 million. Additionally, the previously reported number for June was revised downward from 8.18 million to 7.91 million, indicating a slight reduction in job vacancies over the previous month.
The number of hires in July remained relatively stable at around 5.5 million, with the hiring rate holding steady at 3.5 percent. This suggests that while job openings decreased, the rate of hiring did not experience significant fluctuations, reflecting a consistent level of employment activity.
Total separations, which encompass all types of job departures including resignations, layoffs, and discharges, increased by 336,000 to a total of 5.4 million in July. The separation rate remained unchanged at 3.4 percent. Notably, approximately 3.3 million workers left their jobs during this period, maintaining a steady rate of 2.1 percent, according to the Labor Department.
The Job Openings and Labor Turnover Survey (JOLTS) conducted by the Labor Department provides these insights by gathering data from employers about job vacancies, hiring practices, and employee separations. The survey measures job openings by counting positions that are unfilled or open at the end of each month, offering a snapshot of labor market dynamics.
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