10/04/2022

Job Openings Receded by More than 1.1 Million in August

The massive labor gap may be closing

The number of job openings plunged by more than a million in August, providing a potential early sign that the massive U.S. labor gap is beginning to close.

Available positions totaled 10.05 million for the month, a 10 percent drop from the 11.17 million reported in July, according to a Bureau of Labor Statistics release Tuesday. That was also well below the 11.1 million FactSet estimate and was the biggest one-month decline since April 2020 in the early days of the COVID pandemic.

The number of hires rose slightly, while total separations jumped by 182,000. Quits, or those who left their jobs voluntarily, rose by 100,000 for the month to 4.16 million.

Please select this link to read the complete article from CNBC.