Job Openings Surge 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.

Highlights of Job Openings (July)

Number of positions rose by 54k to 6.17m (est. 6m) from 6.12 in June Hiring increased to 5.5m from 5.43m; hiring rate also rose 3.16m Americans quit their jobs, up from 3.13m; quits rate rose to 2.2% from 2.1% Layoffs declined to 1.78m from 1.81m

Key Takeaways

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.

In August, the economy added fewer jobs than forecast while the unemployment rate crept up from a 16-year low.

The JOLTS report also showed more people quitting their jobs, considered

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