x

Economy

US Job Postings Edge Lower, to 6.49 Million

WASHINGTON — U.S. employers advertised slightly fewer jobs in August as hiring ticked up modestly.

The number of U.S. job postings on the last business day of August dipped to 6.49 million, down from 6.7 million in July, the Labor Department said Tuesday. Those postings are off more than a half million compared with last year at this time, when employers advertised 7.17 million job openings.

Hiring in August edged up to 5.92 million, slightly above the 5.90 million job applicants hired the previous month. 

The government reported last Friday that the U.S. economy generated 661,000 jobs in September. It was the third consecutive month of slower hiring after an initial burst as the U.S. emerging from virus-related lockdowns in the spring. 

The unemployment rate in September fell to 7.9%, down from 8.4% in August and a high of 14.7% in April. Before the pandemic hit, unemployment was at a 50-year low of 3.5% in February.

In August, 2.79 million workers quit their jobs, down from 2.93 million in July figure. 

The number of people voluntarily leaving their jobs had been viewed as a signal about how comfortable people are in leaving a job to find a better one, but it may suggest something else now. With the job market still weak, economists believe some people are quitting to avoid becoming infected with COVID-19, or to take care of children who can't go back to school due to related lockdowns. 

"More people quitting their jobs used to be seen as a sign of confidence in the economy that there was plenty of work out there, but this recession seems to have confused the meaning of this," said Chris Rupkey, chief financial economist at MUFG, a global financial group. "There are not nearly enough openings around to take up the Americans without paychecks this recession."

So far, the economy has gained back about half of the 22 million jobs lost in March and April.

RELATED

CHICAGO - Red Lobster, the casual dining chain that brought seafood to the masses with inventions like popcorn shrimp and “endless” seafood deals, has filed for Chapter 11 bankruptcy protection.

Top Stories

Columnists

A pregnant woman was driving in the HOV lane near Dallas.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

Video

Sour Patch Kids Oreos? Peeps Pepsi? What’s Behind the Weird Flavors Popping Up on Store Shelves

Van Leeuwen Ice Cream usually draws customers with gourmet takes on classics like vanilla and pistachio.

CANNES, France (AP) — Donald Trump’s reelection campaign called “The Apprentice,” a film about the former U.

BUENOS AIRES, Argentina (AP) — A diplomatic crisis between historic allies Spain and Argentina expanded Tuesday as Spain pulled its ambassador from Buenos Aires and Argentine President Javier Milei lambasted the move as “nonsense typical of an arrogant socialist.

ISLAMABAD (AP) — Afghanistan's Taliban government confirmed the resumption of Turkish Airlines flights to Kabul’s international airport, nearly three years after the carrier's services were suspended following the collapse of the Western-backed government.

There has been a sharp increase in Americans leaving the country for medical care.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. [email protected]

You may unsubscribe at any time using the link in our newsletter.