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Key Points
Job openings ticked up to 8 million in August, higher than expected. Hiring and quitting continue to trend down. Layoffs remain low by historical standards.
August’s JOLTS report represents the exact kind of data you’d want to see on the way to a soft landing and helps paint a brighter picture of a labor market that is finding its footing and leveling off at generally balanced, sustainable levels. Job openings rising back to the 8 million mark is an important sign and represents a level at which the labor market can continue to move forward without