The labor market remains sluggish according to the latest JOLTS report

There were 4.673 million job openings on the last business day of July, little changed from June's 4.675 million. The hires rate (3.5 percent) and the separations rate (3.3 percent) were unchanged in July. Within separations, the quits rate (1.8 percent) and the layoffs and discharges rate (1.2 percent) were unchanged.

There were 4.872 million hires in July, compared to 4.791 million in June and the rate was 3.5 percent.
Over the 12 months ending in July, the number of hires (not seasonally adjusted) increased for total nonfarm and total private and was little changed for government. The hires level increased over the year for construction and retail trade but decreased for educational services.

There were 4.559 million total separations in July and the rate was 3.3 percent. The number of separations was little changed from June for total nonfarm, total private, and government.

The latest JOLTS report will likely add argument to Fed doves to keep policy easy.

Definition

The JOLTS report is the Labor Department’s Job Openings and Labor Turnover Survey. The headline number is job openings.

The JOLTS report defines Job Openings as all positions that are open (not filled) on the last business day of the month. A job is "open" only if it meets all three of the following conditions:
* A specific position exists and there is work available for that position. The position can be full-time or part-time, and it can be permanent, short-term, or seasonal, and
* The job could start within 30 days, whether or not the establishment finds a suitable candidate during that time, and
* There is active recruiting for workers from outside the establishment location that has the opening.

Active recruiting means the establishment is taking steps to fill a position. It may include advertising in newspapers, on television, or on radio; posting Internet notices; posting "help wanted" signs; networking with colleagues or making "word of mouth" announcements; accepting applications; interviewing candidates; contacting employment agencies; or soliciting employees at job fairs, state or local employment offices, or similar sources.

Job Openings does not include:
* Positions open only to internal transfers, promotions or demotions, or recall from layoffs
* Openings for positions with start dates more than 30 days in the future
* Positions for which employees have been hired, but the employees have not yet reported for work
* Positions to be filled by employees of temporary help agencies, employee leasing companies, outside contractors, or consultants. A separate form is used to collect information from temporary help/employee leasing firms for these employees.

JOLTS defines hires as all additions to the payroll during the month. JOLTS defines separations as all employees separated from the payroll during the calendar month.

Info from Econoday