The JOLTS data for July point to a gradual easing in labour market conditions. The large decline in healthcare and social assistance job openings is another reason to think that the disproportionate payroll gains in that sector will slow. However, the private sector hiring rate edged higher last month and alternative data point to a small pick-up in openings in August.
We will be discussing the August payrolls report in a Drop-In on Friday, 5th September. Register here for the 20-minute online briefing.
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