Staffing Industry Analysts (10/03/23)

Job openings rose by 690,000 in August compared to July, reaching their highest level since May, though they remained down year over year, according to data released by the US Bureau of Labor Statistics.

The number of job openings stood at more than 9.6 million in August, which CNN reported was greater than the 8.8 million consensus estimate of economists released by Refinitiv.

Some of the biggest increases in job openings occurred in professional and business services; finance and insurance; and state and local government education.

The BLS noted little change in hires and separations, which includes quits and layoffs/discharges. Quits are voluntary and can serve as a measure of workers’ willingness or ability to leave jobs. They rose by 19,000 in August compared to July.

Layoffs/discharges, which are involuntary separations conducted by employers, were up by only 1,000 month over month in August.