U.S. job ads up in July; other signals mixed

U.S. employers in July advertised more jobs and let go of fewer workers than in June, but they also hired fewer people, and more of their workforce quit, sending mixed signals about the job market in the wake of the coronavirus outbreak. The Labor Department said Wednesday that the number of U.S. job postings on the last day of July rose 10% versus the end of June. However, about 1.2 million fewer people were hired and about 300,000 more quit their jobs in July compared with June. What it means

“Overall, this report confirmed a continued but decelerating recovery for the labor market,” Contingent Macro Advisors said in a research note.

The uptick in the number of people quitting their jobs is unusual during a weak jobs market. But some people appear to be staying home to avoid infections, and others are taking care of children who can’t go back to school because of the pandemic.

What current numbers show

The government reported last Friday that the U.S. economy generated 1.4 million new jobs in August, down from 1.7 million in July and 4.8 million in June. The U.S. has recovered just under half the 22 million jobs lost when the pandemic hit the country hard in March and April, forcing businesses to close at least temporarily.

6.6 million

Number of job listings at the end of July, up from 6 million in June

5.8 million

Number of hirings in July (down from 7 million)

1.7 million

Number of layoffs in July (down from nearly 2 million)

2.9 million

Number of people who quit their jobs (up from 2.6 million)

-20%

Drop in job postings in late August compared with a year earlier (hospitality and tourism companies were running 47% behind)

GENE J. PUSKAR / ASSOCIATED PRESS Signs seek workers last week in Farmington, Pennsylvania. U.S. employers advertised more jobs but hired fewer workers in July, sending mixed signals about the job market.