The US job market was largely unchanged in August. There were 7.1 million job openings at the end of the month, according to the US Bureau of Labor Statistics. Companies hired 5.2 million people during the month, while 5.1 million workers left their jobs. The number of people quitting their jobs stood at 3.1 million. Layoffs and discharges were at 1.6 million. Job openings were slightly lower than the revised 7.3 million recorded in July. Hiring, however, was almost unchanged.
Where job openings increased
Job openings moved differently across industries in August. Trade, transportation and utilities had 1.29 million openings, up from 1.24 million in July. Retail trade accounted for 761,000 of these openings, compared with 707,000 in July. Transportation, warehousing and utilities had 338,000 openings, up from 314,000.
Leisure and hospitality also saw an increase. Job openings rose to 829,000 from 768,000 in July. Accommodation and food services made up most of these openings, with 713,000 jobs available. Government also had 731,000 openings in August, compared with 773,000 in July.
Some sectors saw fewer openings
Professional and business services had 1.19 million job openings in August, down from 1.31 million in July. Private education and health services had 1.48 million openings, compared with 1.59 million in July. Health care and social assistance accounted for 1.36 million of these openings.
Manufacturing also saw a decline. Job openings fell to 522,000 from 576,000 in July. Construction had 251,000 openings in August, down from 299,000 in July. Information had 123,000 openings, compared with 78,000 in July.
Hiring stays close to July level
The US economy recorded 5.19 million hires in August. That was only slightly higher than the 5.15 million recorded in July. Private education and health services had 810,000 hires in August, up from 790,000 in July. Professional and business services recorded 935,000 hires, compared with 899,000 in July.
Leisure and hospitality had 905,000 hires, slightly below the 915,000 recorded in July. Trade, transportation and utilities recorded 1.09 million hires in August. The sector had 1.10 million hires in July. Retail trade had 667,000 hires, compared with 663,000 in July. Financial activities recorded 164,000 hires, slightly higher than the 161,000 recorded in July. Information had 44,000 hires in August, down from 62,000 in July.
3.1 million workers quit their jobs
The number of people who quit their jobs stayed at 3.1 million in August. The rate was 1.9%. Wholesale trade saw 34,000 fewer quits during the month. State and local government education recorded 21,000 fewer quits. Quitting increased by 28,000 in nondurable goods manufacturing and by 13,000 in private educational services. Layoffs and discharges were also largely unchanged at 1.6 million. The rate was 1%. Other separations, which include retirement, death, disability and transfers within the same company, stood at 363,000.
The August data shows a labour market where hiring and job openings have not changed much from July. The BLS also revised its July numbers. Job openings were revised up by 64,000 to 7.3 million. Hires were revised up by 92,000 to 5.1 million. Total separations were revised up by 56,000 to 5.1 million. The August job openings rate was 4.3%. The hires rate was 3.3%, while the total separations rate was 3.2%.