US job openings at record high

Job openings inched upward in May to set a record high for the second consecutive month, further evidence of a tight labor market as the economy recovers from the pandemic.

Job openings were up by 16,000 to 9.2 million, the highest since records began in December 2000, according to seasonally adjusted data released today by the US Bureau of Labor Statistics. The figures for hires were also stable while those for total separations decreased.

“This report isn’t quite the barn burner of last month, but the data do suggest that demand for workers is still very strong,” wrote Nick Bunker, director of research at the Indeed Hiring Lab. “Job openings are still near historic highs, the rate of quitting is still above pre-pandemic levels and employers are laying off workers at record lows. The outlook for hiring remains bright.”

Job openings in May increased in a number of industries, led by increases of 109,000 in “other services”; 46,000 state and local government education; and 35,000 in educational services.

On the flip side, the number of job openings decreased in arts, entertainment, and recreation by 80,000; state and local government, excluding education by 56,000; and in federal government by 17,000.

The job openings rate — a measure of job openings compared with total employment — was 6.0%, unchanged from April but up from 3.9% in May 2020.

In May, the number and rate of hires changed little at 5.9 million and 4.1%, respectively. Hires decreased by 56,000 in state and local government, excluding education, and by 10,000 in federal government. The number of hires decreased in the Northeast region.

The original article can be found at: Staffing Industry Analysts