The number of job openings is falling to an 18-month low. The Labor Department reported about seven-million seasonally-adjusted jobs available in August, which is down about 123,000 from the previous month.
It is the third straight month the job openings have declined and hiring is also down by 199,000.
The three-month average gain in private employment dropped to 119,000 from 135,000 in August. That's the lowest that number has been since July 2012.
Workers are more likely to quit one job for another when the economy is strong, but when jobs amid a slowing economy, they tend to stay put.
Economists say a slowdown in the world economy, magnified by the trade war with China, has some employers nervous to staff up.
The Job Openings and Labor turnover Survey does explain that “large numbers of hires and separations occur every month throughout the business cycle. Net employment change results from the relationship between hires and separations.”
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