Monthly job openings decreased in August to 5.4 million, the Bureau of Labor Statistics said on Wednesday.
That’s a rate of 3.6 percent, according to the Job Openings and Labor Turnover Summary (JOLTS). Economist expected monthly job openings in August to be 5.72 million, according to estimates by Reuters, down from 5.87 million last month.
The professional and business services industry led the largest decrease at 223,000. Hires and separations changed little at 5.2 million and 5 million, respectively, the department said.
The report from the Labor Department — often closely watched by Fed chair Janet Yellen — is a key barometer of economic conditions, measuring job postings in different sectors, and the number of hires and layoffs.
The quits rate was 2.1 percent and the layoffs and discharges rate was 1.1 percent.