The number of US job openings reached another new record in August, and the number of openings outpaced the number of unemployed in August by 902,000, according to data released today from the US Bureau of Labor Statistics.
There were 7.1 million job openings in August — up 18.1% year over year — and approximately 6.2 million unemployed people in the same month.
According to the updated numbers, the number of hires also reached a series high and separations were little changed compared to the previous month.
The job openings rate — a measure of job openings compared with total employment — was 4.6% in August, up from 4.0% in August 2017.
The BLS report also measures the “quits” portion of separations, where workers leave a job voluntarily, rose by 12.7% year over year to approximately 3.6 million.
“The fact that record numbers of workers are voluntarily quitting their jobs suggests that they are finding substantially better opportunities elsewhere in the economy,” Julia Pollak, labor economist at online employment marketplace ZipRecruiter, told CNBC.
Source: Staffing Industry Analysts