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U.S. job openings and hiring both slowed in August

Data: U.S. Bureau of Labor Statistics; Chart: Axios Visuals

The U.S. job market remains strong, with more job openings than unemployed people seeking a job, but companies are starting to put some hiring plans on hold.

The big picture: The U.S. had 7.05 million job openings at the end of August, the Labor Department reported on Wednesday, but after torrid increases over the past 2 years, the number of jobs businesses have to offer is beginning to turn lower, but not because firms are filling the positions.

  • The Labor Department's job openings and labor turnover survey, or JOLTs, showed the number of job openings was 4.4% lower than it was a year earlier, falling for the third straight month.
  • The total number of workers hired to new jobs also was lower in August than in the same month in 2018.

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