Job Open­ings Climbed to Record 6.17 Mil­lion in July

The Bond Buyer - - Market News -

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.

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