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A new record for job openings

Labor hand on the USA Flag

U.S. employers advertised a record number of job openings in July, according to the monthly Job Openings and Labor Turnover Survey, known as JOLTS, released by the Labor Department this week. The report shows that job openings increased 4 percent to 5.87 million, the highest number since December 2000. The U.S. economy added 546,000 jobs in June and July, and 151,000 in August.

Most job openings were in professional services, 1,098,000. Employers in education and health advertised 1,079,000 job openings, there were 960,000 openings in trade and transportation, and 746,000 in leisure and hospitality. There were also 496,000 openings for governmental jobs, 332,000 in manufacturing, and 164,000 in constructions.

The hiring rate remained at 3.6 percent for the second consecutive month, but the number of unemployed workers per job opening plunged to 1.3, the lowest since 2001. The analysis found that more people are getting jobs than leaving them, and among those who leave their jobs, more are voluntarily quitting rather than being dismissed. About 3 million people quit their job last month and about 1.6 million were fired, keeping the layoffs rate at a 2-year low.

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