US job openings fell to 7.08 million in August, their lowest since March, with a narrowing gap between vacancies and unemployed workers suggesting labor market weakness.
Macro & Markets ·
US job openings fell to 7.08 million in August, marking their lowest level since March after declining 256,000 from the prior month. Real estate and rental sectors saw the steepest drops, with openings falling to 47,000, the lowest since September 2015, while manufacturing and construction each posted declines of 54,000 and 48,000 respectively. The gap between available vacancies and unemployed workers narrowed to 48,000 in August from 419,000 in July, indicating a tightening labor market imbalance.