Pedestrians walk past the New York Stock Exchange (NYSE) in New York, U.S. (Photographer: John Taggart/Bloomberg)

Job Openings in U.S. Increased to 6.66 Million in June

(Bloomberg) -- U.S. job openings edged higher in June, providing evidence of a job market that’s still tight with Americans feeling confident enough to leave their positions for other work, Labor Department data showed Tuesday.

Highlights of Job Openings (June)

  • Number of positions waiting to be filled increased by 3,000 to 6.66 million in June, according to the Job Openings and Labor Turnover Survey, or JOLTS
  • Hiring fell to 5.65m from 5.75m; hiring rate fell to 3.8% from 3.9%
  • 3.4m Americans quit their jobs, down from 3.48m, leaving quits rate unchanged at 2.3%
  • Layoffs rose to 1.72m from 1.62m

Key Takeaways

The elevated number of job postings shows companies are still expanding though having trouble finding employees from a shrinking pool or because of a skills mismatch. It’s another sign, in line with other employment data, that shows a robust labor market.

In May, a record 3.48 million Americans quit their positions. The steady quits rate shows Americans leaving their jobs remain confident about finding new work that likely pays more and offers better benefits. Although it lags the Labor Department’s main jobs data by a month, the JOLTS report adds context to monthly payrolls figures by measuring dynamics such as resignations, help-wanted ads and the pace of hiring.

Other Details

  • Openings increased in construction, manufacturing, finance, and education and health services; fell in trade and transportation
  • In the 12 months through June, the economy created a net 2.5 million jobs, representing 66.6 million hires and 64.1 million separations.

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