U.S. Job Openings Hit Record, Quit Rate Reaches 17-Year High

U.S. job openings rose in July to a fresh record and the biggest share of workers since 2001 quit their positions, adding to signs of labor-market strength that may push wages higher, Labor Department data showed Tuesday.

HIGHLIGHTS OF JOB OPENINGS (JULY)

  • Number of positions waiting to be filled increased by 117k to 6.94m (est. 6.68m) from an upwardly revised 6.82m in June, according to Job Openings and Labor Turnover Survey, or JOLTS
  • Hiring little changed at 5.68m; hiring rate unchanged at 3.8%
  • Quits rate rose to 17-year high of 2.4% from 2.3%; 3.58m Americans quit their jobs, up from 3.48m

Key Takeaways

Job postings exceeded the number of unemployed people by 659,000 in July, the most in data back to 2000. Along with the number of quitters, the gap helps explain why wages rose in August at the  fastest pace  since 2009, as employers struggle to find qualified workers and Americans become more confident in leaving their jobs for better pay elsewhere amid Republican-backed tax cuts that have boosted the economy.

The rise in the quits rate was driven by private-sector employees, whose share of people voluntarily leaving their jobs rose to 2.7 percent, also the highest since 2001 and up from 2.4 percent in February. Federal Reserve Chairman Jerome Powell has highlighted the quits rate as suggesting that the economy is near full employment.

A separate survey from the National Federation of Independent Business showed 38 percent of U.S. small businesses had openings that they couldn’t fill in August, a record in data back to 1973.

Although it lags the Labor Department’s other jobs data by a month, the JOLTS report adds context to monthly employment figures by measuring dynamics such as resignations, help-wanted ads and the pace of hiring.

Other Details

  • Layoffs declined to 1.6m from 1.65m; layoffs rate unchanged at 1.1 percent
  • There was 0.91 unemployed person per job opening, compared with 1.9 people when the recession began at the end of 2007
  • Openings increased in manufacturing, leisure and hospitality, and finance and insurance; decreased in retail, educational services, federal government
  • In the 12 months through July, the economy created a net 2.5 million jobs, representing 66.7 million hires and 64.2 million separations

Recent Posts

How to Build a Future-Proof Talent Strategy for High-Growth Companies

By Matt Trembicki • March 26, 2025
Talent is the single biggest factor in whether a high-growth company thrives or stalls. As companies scale, the challenge shifts from just hiring quickly to hiring the right people who can grow with the business. At Amplify Resources Group, we’ve seen firsthand how hiring missteps can slow down even the most promising companies: Bad hires cost companies 30% of annual salary in lost productivity and rehiring costs. Hiring delays can set growth targets back 6-12 months. Companies that don’t hire for future needs end up in constant reactive mode , always playing catch-up. So, how do you build a scalable and future-proof talent strategy? Here’s our 4-step framework to help high-growth companies hire, develop, and retain the right people for sustainable success.

Optimize your supplier selection - implement our strategic sourcing framework

By Amplify • March 24, 2025
Implement the ASTRA Framework: A mplify S trategic T argeted R esource A cquisition

Why great strategies fail: The missing link that could change everything

By David Collier • March 18, 2025
In business, success isn’t just about having a vision—it’s about execution. Many organizations struggle, not because they lack ambition, human capital or intelligence, but rather they fail to connect the aspirational to the day-to-day actions. Why Businesses Fail Without Alignment Without a structured framework , companies often experience: Disjointed Efforts: Teams working on initiatives that don’t support or align to the broader organizational goals. Lack of Accountability: No clear way to measure success or failure. Strategy-Execution Gap: A great plan that never materializes into results. Resource Challenges: staff working on various projects and not aligned or allocated to the “right” projects. The missing link? A structured framework that ensures every step moves the business forward and you have traceability throughout your organization. That’s where the GOST Model comes in: Goals, Objectives, Strategies, and Tactics . When these four elements align, businesses can transform their plans from well-intentioned ideas into tangible and valuable results. Let’s break it down with some real-world examples:
Show More

Recent Posts

How to Build a Future-Proof Talent Strategy for High-Growth Companies

By Matt Trembicki • March 26, 2025
Talent is the single biggest factor in whether a high-growth company thrives or stalls. As companies scale, the challenge shifts from just hiring quickly to hiring the right people who can grow with the business. At Amplify Resources Group, we’ve seen firsthand how hiring missteps can slow down even the most promising companies: Bad hires cost companies 30% of annual salary in lost productivity and rehiring costs. Hiring delays can set growth targets back 6-12 months. Companies that don’t hire for future needs end up in constant reactive mode , always playing catch-up. So, how do you build a scalable and future-proof talent strategy? Here’s our 4-step framework to help high-growth companies hire, develop, and retain the right people for sustainable success.

Optimize your supplier selection - implement our strategic sourcing framework

By Amplify • March 24, 2025
Implement the ASTRA Framework: A mplify S trategic T argeted R esource A cquisition

Why great strategies fail: The missing link that could change everything

By David Collier • March 18, 2025
In business, success isn’t just about having a vision—it’s about execution. Many organizations struggle, not because they lack ambition, human capital or intelligence, but rather they fail to connect the aspirational to the day-to-day actions. Why Businesses Fail Without Alignment Without a structured framework , companies often experience: Disjointed Efforts: Teams working on initiatives that don’t support or align to the broader organizational goals. Lack of Accountability: No clear way to measure success or failure. Strategy-Execution Gap: A great plan that never materializes into results. Resource Challenges: staff working on various projects and not aligned or allocated to the “right” projects. The missing link? A structured framework that ensures every step moves the business forward and you have traceability throughout your organization. That’s where the GOST Model comes in: Goals, Objectives, Strategies, and Tactics . When these four elements align, businesses can transform their plans from well-intentioned ideas into tangible and valuable results. Let’s break it down with some real-world examples:
Show More