JOLTS Figures Out for August

U.S. employers are advertising near-record levels of job openings, though the total slipped in August from July.

The U.S. Labor Department reported Wednesday job openings fell 0.9% south of the border in August to just under 6.1 million, from 6.14 million in the previous month. July's figure was revised slightly lower but is still the largest number of available jobs since records began in December 2000.

Together, the report is called the Job Openings and Labor Turnover Survey, or JOLTS, for short.

Job openings in the States have risen as the number of unemployed has fallen to the lowest in a decade. The unemployment rate, currently 4.2%, has hit a 16-year low. That has left businesses struggling to fill open jobs.

Average wage growth has been sluggish, suggesting that companies aren't offering sufficiently healthy pay to entice workers already employed to switch jobs.