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- U.S. job openings increase 1.3 percent in September; hires fall 1.4 percent
U.S. job openings increase 1.3 percent in September; hires fall 1.4 percent
The Job
Openings and Labor Turnover Survey (JOLTS) published by the Labor Department on
Tuesday revealed a 1.3 percent m-o-m advance in the U.S. job openings in September
after a revised 5.2 percent m-o-m drop in August (originally a 3.0 percent
m-o-m decline).
According to the
report, employers posted 6.436 million job openings in September compared to
the August figure of 6.352 million (revised from 6.493 million in the original
estimate) and economists’ expectations of 6.500 million. The job openings rate
was 4.3 percent in September, unchanged from a downwardly revised 4.3 percent
in the prior month. The report showed that the number of job openings decreased
in federal government (-20,000 jobs) but increased for total private (+104,000).
Meanwhile, the
number of hires fell 1.4 percent m-o-m to 5.871 million in September from a
revised 5.952 million in August. The hiring rate was 4.1 percent in September, down
from an unrevised 4.2 percent in August. The hires decreased in federal
government (-256,000), largely due to a drop in demand for temporary 2020
Census workers. Hires also declined in retail trade (-105,000) and educational
services (-23,000). The number of hires increased in accommodation and food
services (+137,000), wholesale trade (+73,000), and transportation,
warehousing, and utilities (+46,000).
The separation
rate in September was 4.664 million or 3.3 percent, compared to 4.689 million
or 3.3 percent in August. Within separations, the quits rate was 2.1 percent (+0.1
pp m-o-m), and the layoffs rate was 0.9 percent (-0.2 pp m-o-m).
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