Job Openings Tumble By 284,000, Still 1 Million More Than Unemployed Workers
A similar easing was observed when looking at the number of quits - or the so-called "take this jobs and shove it" indicator - which shows worker confidence that they can leave their current job and find a better paying job elsewhere. In September, one month after hitting an upward revised all time high, there was a modest, -47,000 dip to 3.601 million in September, further confirmation that Americans are increasingly confident in their job prospects should they part ways with their current employer.
Putting all this in in context:
- Job openings have increased since a low in July 2009. They returned to the prerecession level in March 2014 and
surpassed the prerecession peak in August 2014. There were 7.0 million open jobs on the last business day of
- Hires have increased since a low in June 2009 and have surpassed prerecession levels. In September 2018, there
were 5.7 million hires.
- Quits have increased since a low in September 2009 and have surpassed prerecession levels. In September 2018,
there were 3.6 million quits.
- For most of the JOLTS history, the number of hires (measured throughout the month) has exceeded the number of
job openings (measured only on the last business day of the month). Since January 2015, however, this relationship
has reversed with job openings outnumbering hires in most months.
- At the end of the most recent recession in June 2009, there were 1.2 million more hires throughout the month than
there were job openings on the last business day of the month. In September 2018, there were 1.3 million fewer
hires than job openings