Key Points:
- The number of available jobs since May 2021 continues to outnumber Americans looking for work.
- Job openings rose by 690,000 to 9.6 million in August, far above consensus of 8.8 million.
- Job openings increased in professional and business services (+509,000), finance and insurance (+96,000), state and local government education (+76,000), nondurable goods manufacturing (+59,000), and federal government (+31,000)
- The U.S. added 187,000 jobs in August and there were 6.4 million people unemployed, up from 5.8 million in July.
- In August, the number of hires changed little at 5.9 million and the rate was unchanged at 3.7%. The number of hires changed little in all industries.
- Within separations, quits (3.6 million) and layoffs and discharges (1.7 million) changed little.
- The number of quits increased in accommodation and food services (+88,000), finance and insurance (+28,000), state and local government, excluding education (+21,000); and arts, entertainment, and recreation (+18,000).
- The number of quits decreased in information (-30,000).
- The number of layoffs and discharges decreased in state and local government, excluding education (-39,000), but increased in state and local government education (+27,000).
- The labor force participation rate rose by 0.2% to 62.8% in August and remains 0.5% below its February 2020 level.
- The Right Facts will continue to monitor unemployment and job openings.