U.S. job openings dropped in August

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published 4 October 2022

U.S. job openings dropped in August to their lowest level since June of 2021, CNN reports Tuesday, per the Bureau of Labor Statistics.

The number of job openings dropped from 11.2 million in July to 10.1 million in August. The latest Job Openings and Labor Turnover Survey showed that the total number of job openings per employment-seeking individual has decreased from two to 1.7 per person. Per CNN, this decline in open positions is good news for the Federal Reserve, which has expressed concern that tight employment will increase wages and keep inflation elevated.

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The data also shows that the number of people quitting their jobs remains relatively high, suggesting employees are confident there are openings available, the Times reports. Approximately 4.2 million people voluntarily left their jobs in August, a slight increase from July. That leaves the quits rate at slightly lower than the highest-recording reading of 3 percent, which was reached at the end of last year.

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Theara Coleman has worked as a staff writer at The Week since September 2022. She frequently writes about technology, education, literature and general news. She was previously a contributing writer and assistant editor at Honeysuckle Magazine, where she covered racial politics and cannabis industry news.

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