09/09/2021

U.S. Job Openings Hit Record High as Employers Struggle to Find Workers

The ongoing struggle to find the right worker for the right role continues

U.S. job openings raced to a new record high in July while layoffs rose moderately, suggesting last month's sharp slowdown in hiring was due to employers being unable to find workers rather than weak demand for labor.

The Labor Department's monthly Job Openings and Labor Turnover Survey, or JOLTS report, on Wednesday also showed a steady increase in the number of workers voluntarily quitting their jobs, a sign of confidence in the labor market.

"This is a super tight job market," said Jennifer Lee, a senior economist at BMO Capital Markets in Toronto. "The ongoing struggle to find the right worker for the right role continues."

Please select this link to read the complete article from Reuters.