U.S. Job Openings Dipped In August

job openings dipped August

The number of U.S. job openings fell slightly in August, a troubling sign for a labor market that is recovering at a painfully slow pace.

Job openings -- a measure of labor demand -- dropped to 3.56 million from 3.59 million in July, the Labor Department said on Wednesday in its monthly Job Openings and Labor Turnover Survey.

The data casts a small shadow over recent signs of improvement in the labor market.

Government data last week showed the U.S. unemployment rate unexpectedly dropped to 7.8 percent in September, its lowest level since President Barack Obama took office. That was seen as providing a boost to Obama's re-election bid.

Wednesday's data, however, showed workers were still very cautious about the strength of the economic recovery. The rate at which workers are quitting their jobs held steady in August at 1.6 percent for the seventh straight month.

More: Could The Jobs Numbers Be 'Cooked'?


That rate, which measure the share of the employed who quit their jobs, was usually above 2 percent over the few years before the 2007-09 recession.

In a brighter sign, the recent improvement in the unemployment rate, which also dropped in August, has left fewer unemployed workers chasing each job opening, despite the drop in new positions.

In August, there were 3.52 unemployed workers for every job opening, down from 3.56 in July. Still, before the start of the last recession that ratio was below 2 workers for every opening.

The hiring rate also improved modestly in August, rising to 3.3 percent.


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4 Comments

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bodypeak

of course, it a numbers game............................

October 10 2012 at 4:44 PM Report abuse rate up rate down Reply
legalcld

Amazing how the job openings are dwindling and yet the unemployment rate has gone down!

October 10 2012 at 4:27 PM Report abuse +3 rate up rate down Reply
Kim

If the jobs dipped in August how the heck are we at 7.8 unemployment. This administration is so corrupt

October 10 2012 at 4:07 PM Report abuse +2 rate up rate down Reply
1 reply to Kim's comment
democracks0

it's the Obamites that are hard at work trying to prop up their failed hero Obama.

October 10 2012 at 4:36 PM Report abuse +3 rate up rate down Reply
jdykbpl45

Explain to me just how unenployment declined, in view of this atricle? Mr. Obama, Kills Ambassadors in Lybia.

October 10 2012 at 1:15 PM Report abuse +2 rate up rate down Reply

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