US Non Payroll Jobs Lower Than Expected as Worker Participation Rises

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  • #21833
    TradersCom
    Keymaster

    The US Labor Department July jobs report on…

    [article]1709[/article]

    #21872
    TradersCom
    Keymaster

    US July JOLTS job openings 7217K vs 7331K expected
    Prior s 7348K (revised to 7248K)

    The job openings rate was 4.5 percent. The number of job openings was little changed for total private and for government.

    The job openings level decreased in wholesale trade (-55,000) and in federal government (-11,000).
    The job openings level increased in information (+42,000) and in mining and logging (+11,000).

    The number of job openings was little changed in all four regions.
    [b]
    Hires
    [/b]
    The number of hires edged up to 6.0 million (+237,000) in July. The hires rate was 3.9 percent. The number of hires edged up for total private (+219,000) and was little changed for government. The hires level was little changed in all industries. The number of hires was little changed in all four regions.

    Separations

    Total separations includes quits, layoffs and discharges, and other separations. Total separations is referred to as turnover. Quits are generally voluntary separations initiated by the employee. Therefore, the quits rate can serve as a measure of workers’ willingness or ability to leave jobs. Layoffs and discharges are involuntary separations initiated by the employer. Other separations includes separations
    due to retirement, death, disability, and transfers to other locations of the same firm.

    The number of total separations rose to 5.8 million (+246,000) in July. The total separations rate was 3.8 percent.

    The number of total separations increased for total private (+245,000) and was little changed for government.

    The total separations level increased in professional and business services (+98,000), transportation, warehousing, and utilities (+42,000), and information (+21,000). The number of total separations increased in the West region.

    The number of quits edged up to a series high in July of 3.6 million (+130,000). The quits rate was 2.4 percent. The quits level edged up for total private (+127,000) and was little changed for government. Quits increased in health care and social assistance (+54,000) and in federal government (+3,000). The number of quits rose in the Midwest region.

    The number of layoffs and discharges was little changed in July at 1.8 million. The layoffs and discharges rate was 1.2 percent. The layoffs and discharges level was little changed for total private and for government. The number of layoffs and discharges increased in information (+20,000). The layoffs and discharges level increased in the West region.

    The number of other separations was little changed in July. The other separations level was also little changed for total private and for government. Other separations decreased in accommodation and food services (-13,000) but increased in transportation, warehousing, and utilities (+11,000). The number of other separations was little changed in all four regions.

    https://www.bls.gov/news.release/jolts.nr0.htm

    #21954
    TradersCom
    Keymaster

    US weekly initial jobless claims 208K v 213K estimate

    Prior revised 206K last week (was 204K).

    The four-week moving average was 212.2 5K vs 213K last week (revised from 212.5K)

    Continuing claims 1661K vs 1672K estimates. prior revised to 1674K from 1670K
    Four-week average came in at 1.677.5 a decrease of 3.75K from previous week 1681.25K

    #21983
    Truman
    Participant

    Richmond Fed indicate wage growth & slight increase in #employment in manufacturing sector in Sept.
    However, firms struggled to find workers with the necessary skills, and the indicator for the average workweek hit a nine-year-low

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