Prior month 8.184M (was expecting 8.000M) revised lower 7.910MJob openings 7.673M. Lowest since Feb 2021vacancy rate 4.6% versus 4.8% last month revised from 4.9%Quits rate 2.1% versus 2.0% last month (revised from 2.1%).Separations rate 3.2% versus 3.2% last month
Details:
JOLT Job Report Summary for July
Total job openings: 7.7 million, rate 4.6%Decreased by 1.1 million year-over-yearDecreased in:Health care and social assistance: -187,000State and local government, excluding education: -101,000Transportation, warehousing, and utilities: -88,000Increased in:Professional and business services: +178,000Federal government: +28,000
Hires:
Total hires: 5.5 million, rate 3.5%Increased in accommodation and food services: +156,000Decreased in federal government: -8,000
Total Separations: Separations are increasing
Total separations increased to 5.4 million (+336,000), rate 3.4%Increased in health care and social assistance: +108,000
Quits: People are not quitting
Total quits unchanged at 3.3 million, rate 2.1% vs 2.0% last monthDown by 338,000 year-over-year.Increased in information: +16,000
Layoffs and Discharges:
Total layoffs and discharges: 1.8 million, rate 1.1%Increased in accommodation and food services: +75,000Increased in finance and insurance: +21,000
Other Separations:
Increased to 381,000 (+71,000)
Stocks have moved lower after the weaker than expected JOLTs job report.
Feds Waller did say if the vacancy rate fell below 4.5% it would indicate that the slacking labor is being absorbed. The vacancy rate fell to 4.6% from 4.8% last month.
This article was written by Greg Michalowski at www.forexlive.com.
