Job Openings Climbed to Record 6.17 Million in July
U.S. job openings unexpectedly rose to a record in July, indicating resilient demand for workers, Labor Department figures showed on Tuesday.
The number of positions rose by 54,000 to 6.17 million (estimates were 6 million) from 6.12 million in June. Hiring increased to 5.5 million from 5.43 million; the hiring rate also rose 3.16 million Americans quit their jobs, up from 3.13 million; the quits rate rose to 2.2% from 2.1%. Layoffs declined to 1.78 million from 1.81 million.
A rising trend in available positions highlights robust labor conditions as steady sales and economic growth keep companies on the hunt. A tighter job market has also placed a premium on skilled and experienced employees, helping explain why economists anticipate smaller monthly payrolls growth as those workers are on staff. There were 1.1 unemployed people vying for every opening in June, down from 1.9 people when the recession began at the end of 2007.