US hiring steps up in August, but job advertisements edge lower to 6.49 million

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US hiring steps up in August, but job advertisements edge lower to 6.49 million

US Labour Department said in a statement on Tuesday that the US hiring has witnessed a marginal gain in August, though the US employers had sought for a slightly fewer hiring in August, reflecting a US labour market which continues to struggle amid a sharp decline in job growth over the past three months following a boom in May and June when the US economy had reopened following the peak of the pandemic outbreak.

In point of fact, according to US Labour Department data revealed earlier on Tuesday, the US employers had posted slightly lower number of job advertisements in August, while US hiring had witnessed a modest rise. In the latest flashpoint of a foiling in US job gains, the number of US advertisement on August fell to 6.49 million compared to a reading of 6.7 million job listings in July, however, the number of US job listings had still been more than half a million down compared to the same time a year earlier while the US advertisers had listed roughly 7.17 million job openings, suggesting a steeper drag on labour market landscape that largely coincided with a remark from the US Federal Reserve Chair Jerome Powell who had been quoted saying earlier last week that the US labour market would continue to drown unless an urgent Government stimulus.

US hiring picks up in August

Despite a downcast in job openings alongside a sheer reluctancy among the US businesses to resume hiring amid an uncertain business outlook with no pandemic vaccine in sight yet, hiring in the United States rose in August to 5.92 million, up from a figure of 5.90 million job applicants hired over the previous months, while the unemployment rate in September fell to 7.9 per cent form an 8.4 per cent a month earlier.

Nevertheless, US unemployment rate hit a record 50-year-low of 14.7 per cent in April this year.