U.S. Job Openings Increased in July by More Than Forecast

Christel Deskins

Photographer: Olivier Douliery/AFP via Getty Images Photographer: Olivier Douliery/AFP via Getty Images U.S. job openings increased for a third straight month in July, consistent with a steady improvement in the labor market as the nation grinds its way forward from a pandemic-induced recession. The number of available positions rose to […]

     

Photographer: Olivier Douliery/AFP via Getty Images

U.S. job openings increased for a third straight month in July, consistent with a steady improvement in the labor market as the nation grinds its way forward from a pandemic-induced recession.

The number of available positions rose to 6.62 million during the month from a revised 6 million in June, according to the Labor Department’s Job Openings and Labor Turnover Survey, or JOLTS, released Wednesday. The figure exceeded all projections in a Bloomberg survey of economists. Openings that involve workers recalled from layoffs or positions that are only offered internally are not counted in the figure.

U.S. job openings picked up in July as economy bounces back from lockdowns

Competition among those looking for work remains elevated with a little more than 16 million Americans jobless in July, leaving about 2.5 unemployed workers vying for every job opening. That stands in stark contrast to a two-year trend in which job vacancies exceeded the number of unemployed.

The number of hires, which does include rehired employees, declined 1.18 million to a still-solid 5.79 million in July. The hires rate decreased to 4.1% from 5.1%.

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