Job Openings Plunge To 17 Month Low As Slide In Hiring, Quitting Confirms Job Market Slowdown | WHAT REALLY HAPPENED

Job Openings Plunge To 17 Month Low As Slide In Hiring, Quitting Confirms Job Market Slowdown

Last month we concluded our analysis of the July Jolts by reminding readers that "JOLTS is 2 months delayed, so we wouldn't be surprised if next month's JOLTs is where the real ugliness lies." That's precisely what happened.

Just in case the last few disappointing payrolls reports weren't sufficient to indicate that the US labor market is cooling rapidly, the latest JOLTS released today by the BLS confirmed that US workers are going through a decidedly rough patch, as the total number of job openings dropped again, sliding to 7.051 million, below the 7.250 million expected, and not only below the downward revised June print of 7.174 million (7.217 previously), but the lowest number in 17 months, since March 2018.

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