US job openings slide for the first time in 6 months in August — and more people quit than ever
Job openings fell for the first time in six months as the labor market's recovery slumped in August.
The report signals the labor shortage still going strong in August as the Delta wave intensified. Openings first shot higher through the spring as businesses struggled to attract workers. The labor shortage quickly led some firms to raise wages, while others waited for the virus threat to fade. And while job creation boomed through the summer, openings kept rising to fresh records.that month, down from the 1.1-million-payroll gain seen in July and less than half the median forecast.
Typically, an abundance of openings comes late in economic expansions. Yet the extraordinary amount of unfilled postings pulled the ratio below zero far more quickly than in past recoveries.
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