Job openings unexpectedly increased in August while new hires and layoffs were little changed, according to new data from the Bureau of Labor Statistics (BLS).
The Job Openings and Labor Turnover Summary (JOLTS) showed that the number of employment vacancies rose by 330,000, to 8.04 million, the highest level since May. The July reading was revised higher to 7.711 million from 7.673 million.
Markets had projected 7.655 million job openings last month.
Most of the gains in job openings were centered in construction (138,000) and state and local government excluding education (78,000). The services sector registered a 93,000 drop in job vacancies.
Job quits—a gauge of the number of employees who voluntarily resigned from their positions—declined by 159,000, to 3.084 million, the lowest in four years. The July figure was adjusted lower to 3.243 million from 3.277 million….