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IPFS News Link • Employment & Jobs

Job Openings and Quits are in a Steep Plunge. The Fed Will Be Pleased.

• Mish Talk

Job openings are back to the lowest level since April 2021. Quits are back to the pre-Covid trendline.

Please consider the Job Openings and Labor Turnover Summary JOLTS report for July 2023.

Job Openings

On the last business day of July, the number of job openings edged down to 8.8 million (-338,000), while the rate changed little at 5.3 percent. Over the month, job openings decreased in professional and business services (-198,000); health care and social assistance (-130,000); state and local government, excluding education (-67,000); state and local government education (-62,000); and federal government (-27,000). By contrast, job openings increased in information (+101,000) and in transportation, warehousing, and utilities (+75,000).