Today's Report (10/12/2021)
The number of job openings declined to 10.4 million on the last business day of August following a series high in July, the U.S. Bureau of Labor Statistics reported today. Hires decreased to 6.3 million while total separations were little changed at 6.0 million. Within separations, the quits rate increased to a series high of 2.9 percent while the layoffs and discharges rate was little changed at 0.9%.
On the last business day of August, the number and rate of job openings decreased to 10.4 million (-659,000) and 6.6 percent, respectively. Job openings decreased in several industries with the largest decreases in health care and social assistance (-224,000); accommodation and food services (-178,000); and state and local government education (-124,000). Job openings increased in the federal government (+22,000). The number of job openings decreased in the Northeast and Midwest regions.
In August, the number and rate of hires decreased to 6.3 million (-439,000) and 4.3%, respectively. Hires decreased in accommodation and food services (-240,000) and in state and local government education (-160,000). The number of hires decreased in the Midwest region.
In August, the number and rate of total separations were little changed at 6.0 million and 4.1 percent, respectively. The total separations level increased in accommodation and food services (+203,000) and in state and local government education (+57,000). The total separations level decreased in other services (-68,000) and in state and local government, excluding education (-26,000). Total separations were little changed in all four regions.
What is it?
It publishes the total number of new hires and layoffs in the month, as well as how many job openings remained in that period.
How does it affect the markets?
The reaction is generally muted.
A survey done by the US Bureau of Labor Statistics to help measure job vacancies. It collects data from employers about their business's employment, job openings, recruitment, hires, and separations.
JOLTS defines Job Openings as all positions that are open (not filled) on the last business day of the month. A job is "open" only if it meets all three of the following conditions:
1. A specific position exists and there is work available for that position.
2. The job could start within 30 days, whether or not the establishment finds a suitable candidate during that time.
3. There is active recruiting for workers from outside the establishment location that has the opening.
A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD.