The number of job openings rose to a record 10.1 million in June. It's a job-seekers market as worker demand is record high for the fourth straight month.
The numbers: The number of job openings rose to a record 10.1 million in June from a revised 9.5 million in the prior month, the Labor Department said Monday. That’s the fourth straight all-time monthly high.What happened: Hiring increased more than job openings for the first time in six months.The quits rate increased to 2.7% in June from 2.5% in the prior month.
Many economists think the labor market data will allow the Federal Reserve to start tapering its bond purchases in November. “The reopening of the broader economy has resulted in unprecedented levels of demand for workers. Job seekers, but jobless and employed, are taking advantage of this situation with job switching near historic levels and nominal wages growing quickly. The question now is by how much and how quickly will this situation fade,” said Nick Bunker, director of research at Indeed Hiring Lab said
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