Job Openings 10.934M in July, above consensus

• 10.934M July Job Openings vs. 10M consensus and 10.185M prior (revised from 10.073M).
• That's the fifth-straight monthly record for openings, with the labor market showing few signs it is getting employees into much-needed positions, even at a time where states are rolling back emergency jobless benefits.
• Quits rate unchanged at 2.7%, while the layoffs and discharges rate was little changed at 1%.
• "Private sector quits rate did tick up a bit to 3.1% from 3% in June," Nick Bunker, economist at Indeed, tweets. "Interestingly, the leisure and hospitality quits rate declined a bit to 5.1%."
• Job openings rate 6.9%, above prior rate of 6.5% in June.
• Job openings increased in several industries, with the largest increases in health care and social assistance +294K; finance and insurance +116K; and accommodation and food services +115K.
• The number of job openings increased in the Northeast, South, and West regions.
• The "ratio of number of unemployed to job openings has slipped below 1 - consistent with latter phases of expansions," Schwab's Liz Ann Sonders tweeted earlier. The "huge difference today is labor force participation rate at 61.7% … in 2007, it was 66%."
• August nonfarm payrolls fell well shy of estimates, while the labor participation rate didn't budge.