US Job Openings Rise by 329k to 8.04 Million in August, Reaching Three-Month High

Oct 2, 2024, 08:30 AM

The U.S. job market showed unexpected resilience in August as job openings rose by 329k to 8.04 million, surpassing the forecast of 7.655 million and the previous month's 7.673 million, according to the Job Openings and Labor Turnover Survey (JOLTS) by the Labor Department. This marks a significant increase from the prior month and indicates a rebound after two consecutive months of declines, reaching a three-month high. Despite the rise in job openings, hiring remained soft, with hires changing little at 5.3 million and total separations at 5.0 million. The number of quits fell to the lowest since August 2020, reflecting a slowing but resilient labor market.