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July Job Report Consider The Consumer

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July Job Report Shows Opening Edge Upward In July

Consumers looking for a job in July found there were more positions available than there were a month earlier, according to the July job report.

According to the Department of Labor (DOL), there were 6.170 million openings in July, versus the 6.116 million found in June.

The slight increase put the job openings rate at 4.0% as the number of openings was little changed for total private and down by 58,000 for government.

Industries looking for workers included other services (+111,000), transportation, warehousing, & utilities (+70,000), and educational services (+26,000).

There were fewer postings in health care and social assistance (-72,000), state and local government — excluding education — (-46,000), and federal government (-21,000).

The number of job openings was little changed in the regions.

Hires

Just over 5.05 million workers were hired during the month, pushing the hires rate up 0.1% from June to 3.8%. The number of hires was little changed for total private and for government, with federal government hires rising by 9,000.

Little change was reported for all other industries and for all four geographic regions.

Separations

There were 5.332 million separations during July, compared with 5.309 million the month before, for a total separations rate of 3.6% — the same as in June.

Included were 3.164 million quits, 1.783 million layoffs & discharges and 384,000 other separations — things like retirement, death, disability and transfers to other locations of the same firm.

The number of total separations — which includes quits, layoffs, & discharges and other separations — was little changed in all four regions.

Net change in employment

Net employment change results from the relationship between hires and separations. When the number of hires is higher, employment rises. On the other hand, when the number of hires is less than the number of separations, employment declines.

Over the 12 months ending in July, hires totaled 63.6 million and separations totaled 61.5 million, yielding a net employment gain of 2.1 million.

The complete report may be found on the DOL website.

The above was reported by Consumer Affairs.

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