U.S. Job Openings Fall to 7.08 Million in August

The United States Department of Labor reported that job openings fell to approximately 7.08 million in August, missing the consensus estimate of 7.228 million for the third consecutive month. This figure represents a decrease from a revised 7.34 million in July. The decline was driven primarily by a record plunge in real estate, rental, and leasing openings, which hit their lowest level since February 2014.

While sectors such as trade, information, and leisure and hospitality saw gains, these were offset by losses in manufacturing, construction, professional services, and private education. The labor surplus tumbled from 419,000 in July to 48,000 in August, returning the ratio of job openings to unemployed workers to 1.0x.

Despite the dip in openings, the labor market remains resilient. Hires rose modestly by 46,000 to 5.192 million, and hiring has improved since 2025, with an average of 80,000 jobs added monthly this year compared to 9,700 per month last year. However, the number of employees quitting decreased by 23,000 to 3.066 million, suggesting a decline in worker confidence regarding finding better employment. This stability persists despite rising energy costs linked to conflict with Iran. Forecasters expect September data to show 95,000 jobs added and an unemployment rate of 4.1%.