rd HighAfter last weeks disap
pointing jobs report, theres some good
news on the employment front.
Job openings hit a new record high of 5.75 millio
n in July, the Labor Department reported Wednesday. The U.S. government has been tracking job openings since December 2000 as part of its Job Op
enings and Labor Turnover Survey, commonly known as JOLTS. Julys job openin
g numbers were well above economists average est
imate of 5.29 million, and up 3.9% after ho
teading at 3.6% for the three preceding months. While all the openings are good news for job seekers, there was some mediocre data in the
epartments report as well. Despite all the available jobs, employers arent hiring new people. Hiring fell to 4.98 million in July from 5.18 mill
ion in June. Separations, meaning those people leaving their jobs whether by quitting or layoffs, also fell, hitting 4.72 million in July compared to 4.91 million in June. The quits rate, which signals how confident people are to leave their job for another, held steady at 1.9% for the fourth month.
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