U.S. JOLTS report showed job openings fell 388k to 5,443k in August
U.S. JOLTS report showed job openings fell 388k to 5,443k in August, from a downwardly revised 188k gain in July (was 228k) to 5,831k (was 5,871k). The August drop erases the gains from June and July. The job opening rate dropped to 3.6% from 3.9%. Hirings declined 48k to 5,210k following July's 86k increase (revised from 55k) to 5,258k (revised up from 5,22k). The rate was steady at 3.6%. Quitters increased 4k to 2,981k versus the prior 2k slip (revised from 1k gain) to 2,977k (revised from 2,980k). The quit rate was unchanged at 2.1%. Though this report is rather dated, it's a Yellen favorite, and the generally softer tone of the report is consistent with the FOMC's decision to hold steady in September.