September 10, 2008 (The Editor’s Desk is updated each business day.)
Hires rate in July 2008
The hires rate decreased in July to 3.0 percent. The hires rate has trended downward since July 2006.
The hires rate fell significantly in July for total nonfarm, total private, the construction industry, and the Northeast and South regions. The hires rate did not increase significantly in any industry or region in July.
The hires rate is the number of hires as a percent of total employment. Hires are any additions to the payroll during the month.
These data come from the Job Openings and Labor Turnover Survey. The above data are seasonally adjusted. Data for July 2008 are preliminary and subject to revision. Find additional information in "Job Openings and Labor Turnover: July 2008," (PDF) (HTML) news release USDL 08-1270.