La­bor Mar­ket Spurs Job Open­ings to Record Level

The Bond Buyer - - Market News -

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.

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