Putting numbers to all of those “help wanted” signs we see: The Bureau of Labor Statistics reports today that job openings reached a record 10.1 million in June.
The number of job openings increased to a series high of 10.1 million on the last business day of June, the U.S. Bureau of Labor Statistics reported today. Hires rose to 6.7 million and total separations edged up to 5.6 million. Within separations, the quits rate increased to 2.7 percent. The layoffs and discharges rate was unchanged at 0.9 percent, matching the series low reached last month…
Job openings increased in several industries, with the largest increases in professional and business services (+227,000); retail trade (+133,000); and accommodation and food services (+121,000).
The Associated Press reports on the BLS release.
Employers hired 6.7 million workers in June, up from 6 million in May. The gap between openings and hiring suggests that firms are scrambling to find workers. Lingering health fears, difficulty getting childcare at a time when many schools are closed and expanded federal jobless aid may have kept some unemployed Americans from seeking work.
Still, hiring (up nearly 12%) grew faster than job openings (up 6%), narrowing the mismatch. In a research report, Contingent Macro Advisors suggested that “this report might offer the first sign that headwinds like generous unemployment benefits and childcare issues for parents might finally be abating, allowing people to get back to work.”
Hope so.
