Labor Market Spurs Job Openings to Record Level
U.S. job openings rose in July to a fresh record as the biggest share of workers since 2001 quit their positions, adding to signs of labor-market strength that may push wages higher, Labor Department data showed Tuesday.
The number of positions waiting to be filled increased by 117,000 to 6.94 million (estimated at 6.68 million) from an upwardly revised 6.82 million in June, according to Job Openings and Labor Turnover Survey, or JOLTS.
Hiring was little changed at 5.68 million and the hiring rate was unchanged at 3.8%.
The quits rate rose to a 17-year high of 2.4% from 2.3%; 3.58 million |Americans quit their jobs, up from 3.48 million in June.
Job postings exceeded the number of unemployed people by 659,000 in July, the most in data back to 2000.