Saturday, August 13, 2022
62.4 F

    Latest Posts

    Setting Brushfires of Freedom by Don Jans

    Job Openings Surge by 10 Percent to 6.6 Million, Topping Expectations

    Sponsored - Job Posting

    We are a small but mighty business in Ventura, CA specializing in Civil/Agricultural Engineering and Land Surveying. Going strong for over 35 years. Looking for motivated team players for immediate hire. Candidates must have at least 3 years of experience in Civil Engineering, Land Surveying, and AutoCAD Civil 3D. Must want to grow with the company. For the right person, management potential. Wages will depend on experience. Benefits include paid holidays, matching retirement plan & much more. Send resumes to: [email protected]

    YCE, Inc. is an Equal Opportunity Employer. Tel:


    Job openings in the United States, which are a measure of labor demand, rose by 10 percent to 6.6 million in July, while the number of people quitting their jobs rose by 2.1 percent between June and July, suggesting an uptick in confidence in being able to find work.

    The Labor Department’s Job Openings and Labor Turnover Survey (JOLTS), released Wednesday, showed that the number of job vacancies jumped by 617,000 to 6.6 million on the last day of July, above the 6 million that economists surveyed by FactSet predicted.

    Manufacturing saw a 17.9 percent surge in job openings. Industries that saw the largest increases in vacancies were retail trade (172,000), health care and social assistance (146,000), and construction (90,000). The U.S. housing market, in particular, has shown remarkable resilience amid the Chinese Communist Party (CCP) virus outbreak, with an August report from the U.S. Census Bureau (pdf) showing building permits, a predictor of future activity, rising by 18.8 percent from June to July. Housing starts, meanwhile, surged by 22.6 percent between June and July. In another sign that the economic recovery may be picking up speed, U.S. home sales rose at a record rate for a second straight month in July.

    Wednesday’s JOLTS report showed that vacancies were highest in trade, transportation, and utilities (1.292 million), followed by education and health services (1.262 million), and business and professional services (1.2 million), with all three categories seeing growth from the month before.

    The number of people voluntarily quitting their jobs increased 344,000 to 2.9 million, a measure typically interpreted as signaling confidence in being able to find a better job. Amid the pandemic, however, an increase in this measure may also suggest people leaving their jobs over fears of exposure to the virus. The JOLTS report showed there were 152,000 workers who quit their jobs in the retail sector, while in the professional and business services sector, 98,000 workers left.

    The jobs market has been making a gradual recovery since the economic shutdown associated with containing the CCP virus. After pandemic-driven lockdowns drove non-farm payroll employment to fall by 701,000 in March and plummet by 20.5 million in April, a record drop, the economy has continued to add jobs. Recent Labor Department figures show (pdf) that the unemployment rate in August fell by 1.8 percentage points to 8.4 percent, while the economy added 1.4 million jobs. This comes on the back of total non-farm payroll employment rising by 1.8 million in July, 4.8 million in June, and 2.5 million in May, bringing the total jobs created in the past 4 months to a record 10.5 million.

    Follow Tom on Twitter: @OZImekTOM

    Republished with Permission The Epoch Times    SUBSCRIBE

    Get Headlines free  SUBSCRIPTION. Keep us publishing – DONATE

    - Advertisement -
    0 0 votes
    Article Rating
    Notify of

    Inline Feedbacks
    View all comments

    Latest Posts


    Don't Miss


    To receive the news in your inbox

    Would love your thoughts, please comment.x