Nonfarm job openings in the U.S. dropped for the third consecutive month in August and reached their lowest in 17 months, as hiring also fell from a record level in prior month, data from the U.S. Labor Department showed.
Seasonally adjusted job openings went down to 7.1 million in August from 7.2 million in the previous month, marking the lowest level of job openings since March 2018.
The consensus estimate from economists polled by Econoday was for 7.2 million job openings in August.
Job openings declined in several sectors, including manufacturing, information, financial activities, professional and business services, education and health services, and leisure and hospitality.
Following a rebound in July, hiring declined in August to 5.8 million from 6.0 million.
Total job separations, which include resignations and layoffs, decreased to 5.6 million from 5.8 million.
The job openings rate decreased month over month in August to 4.4% from 4.5%, and the hires rate edged down to 3.8% from 3.9%. The separations rate also fell to 3.7% from 3.8%.
The government reported Oct. 4 that total U.S. nonfarm payroll employment grew by 136,000 in September, missing market expectations.
