Job openings hit record high in June
Job openings rose by 590,000 in June
Strong jobs report comes with several question marks
ADP chief economist Nela Richardson and Spotlight Asset Group chief investment officer Shana Sissel on the July jobs report and companies avoiding return to work.
The number of U.S. job openings hit a record high in June as employers struggled to find workers amid an ongoing labor shortage.
The total number of job openings rose by 590,000 to 10.073 million, according to the Labor Department’s Job Opening and Labor Turnover Survey, or JOLTS. The number of job openings in May was revised higher by 274,000.
The pace of hiring picked up with employers adding 6.7 million workers, 697,000 more than in May.
Hiring increased across all regions with the biggest gain in the South (+2.62 million).
Total separations rose 254,000 to 5.6 million.
Within the separations category, 3.9 million workers quit their jobs, an increase of 239,000 from the prior month.
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Quits increased in professional and business services (+72,000), durable goods manufacturing (+47,000) and state and local government, excluding education (+33,000), while decreasing in state and local government education (-26,000).