US job openings rise modestly in August, hiring declines
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The news: US job openings increased marginally in August while hiring declined as economists watch the labour market for any signs of softening.
The numbers: Job openings, a measure of US labour demand, rose 19,000 to 7.227 million by 31 August, the Labor Department's Bureau of Labor Statistics said in its Job Openings and Labor Turnover Survey (JOLTS report) on Tuesday.
Reuters economists had forecast 7.185 million unfilled jobs.
The hiring rate in August dipped to 3.2%, the lowest level since June 2024, while layoffs were little changed, JOLTS data showed.
The context: Openings have gradually dropped from an early 2022 peak and have now settled in a narrow band for the past year.
Meanwhile, data from the US Conference Board also released on Tuesday showed consumer confidence in the US fell in September, decreasing 3.6 points to 94.2. The drop marks a five month low and underscores concerns about the cooling labour market and market uncertainty.
The weak data comes as the US government heads toward a shutdown which could delay the released of Friday’s US jobs report and other economic data.
The sources: Bureau of Labor Statistics, Conference Board, Reuters, Bloomberg
