US job openings hit a record high in July, as hiring dropped and separations increased during the month.
Source: Bureau of Labor Statistics
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Job openings climbed to a series-high of 10.934 million during the month, reflecting a rate of 6.9%. The biggest increases were recorded in health care and social assistance; finance and insurance; and accommodation and food services.
Hires declined to 6.667 million from 6.827 million the previous month, equivalent to a rate of 4.5%. Declines were reported in retail trade, durable goods manufacturing, and education services.
Total separations climbed to 5.786 million in July to reflects a rate of 3.9%. Quits stood at 4.0 million, layoffs at 1.5 million, and other separations at 350,000. Total separations increased the most in the Northeast region.
Net employment gain for the 12 months to July stood at 7.0 million, as hires totaled 72.6 million and separations totaled 65.6 million.