U.S. Job Openings Drop to 7.079 Million as Real Estate Vacancies Plunge
August openings fell 256,000 from a revised July total, while real estate and rental vacancies reached their lowest level since February 2014.
U.S. job openings fell to 7.079 million in August as vacancies in real estate and rental and leasing plunged, adding to signs of a softer labor market ahead of the next employment report.
The August total declined by 256,000 from a revised 7.335 million in July. The job-openings rate was 4.3%, while hires rose to 5.192 million and quits fell to 3.066 million.
Real estate and rental and leasing openings recorded the sharpest decline among the categories highlighted in the data, dropping 45,000 to 50,000. That was the sector’s lowest level since February 2014.
Professional and business services openings fell by 119,000 to 1.186 million. Private education and health services openings declined by 101,000 to 1.484 million. Construction and manufacturing openings also decreased.
The declines were partly offset by gains in other sectors. Leisure and hospitality openings rose by 61,000 to 829,000, while trade, transportation and utilities openings increased by 43,000 to 1.287 million. Information openings also increased.
The Job Openings and Labor Turnover Survey data were released at 10 a.m. ET (14:00 UTC) Sept. 29. The figures give markets another measure of labor demand as investors assess the outlook for Federal Reserve policy before the next employment report.
