US Unemployment Falls Back To 8.4% Added 1.37 Million Non-Farm Jobs in August

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  • #24535
    TradersCom
    Keymaster

    he US Labor Department reported another new 1.371…

    [article]2183[/article]

    #24557
    Helmholtz Watson
    Participant

    July JOLTS US job openings 6618K v 6000K expected

    Prior 5889K revised to 6001K

    Hires decreased to 5.8 million. Total separations was little changed at 5.0 million.

    Within separations, the quits rate rose to 2.1 percent while the layoffs and
    discharges rate decreased to 1.2 percent.

    Job Openings

    On the last business day of July, the number and rate of job openings increased to 6.6 million
    (+617,000) and 4.5 percent, respectively. Job openings rose in a number of industries, with the largest
    increases in retail trade (+172,000), health care and social assistance (+146,000), and construction
    (+90,000). The number of job openings increased in the South and Midwest regions. (See table 1.)
    _________________________________________________________________________________________________
    | Coronavirus (COVID-19) Pandemic Impact on July 2020 JOLTS Data |
    | |
    |Data collection for the Job Openings and Labor Turnover Survey was affected by the coronavirus |
    |(COVID-19) pandemic. More information is available at the end of this news release and at |
    |www.bls.gov/covid19/job-openings-and-labor-turnover-covid19-july-2020.htm. |
    |_______________________________________________________________________________________________|

    [b]Hires
    [/b]
    In July, the number and rate of hires decreased to 5.8 million (-1,183,000) and 4.1 percent, respectively.
    Over the year, the hires level was little changed. Hires decreased in a number of industries, with the
    largest fall in accommodation and food services (-599,000), followed by other services (-143,000), and
    health care and social assistance (-137,000). Hires increased in federal government (+33,000), largely
    because of Census hiring. Hires also increased in real estate and rental and leasing (+26,000). The
    number of hires decreased in all four regions. (See table 2.)

    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.

    In July, the number and rate of total separations was little changed at 5.0 million and 3.6 percent,
    respectively. Total separations increased in retail trade (+112,000) and in state and local government
    education (+49,000). The number of total separations decreased in durable goods manufacturing
    (-44,000). Total separations was little changed in all four regions. (See table 3.)

    In July, the number and rate of quits increased to 2.9 million (+344,000) and 2.1 percent, respectively.
    Quits increased in retail trade (+152,000), professional and business services (+98,000), and state and
    local government education (+35,000). The number of quits increased in the Midwest and West regions.
    (See table 4.)

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

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