There have been 5.25 million job openings, down from 5.36 million in Might, whereas the variety of employed rose to five.
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“We view this metric as an indicator of labor market slack and see its continued downward trend as supportive of our optimistic outlook for U.S. labor markets”, said Jesse Hurwitz, an economist at Barclays in New York.
May’s number of job openings was the highest on record – marking the most job openings in a month since the government began tracking them in 2000.
The report showed job openings fell at hotels and restaurants, construction companies and factories. And, the number of hires was 5.2 million, virtually unchanged month-on-month. “You wouldn’t be quitting your job unless you have better prospects”. Chairwoman Janet Yellen has said the rate of voluntary quitting is a key gauge of workers’ confidence in the economy.
Total dismissals, which exclude retirements and those who left their job voluntarily, increased to 1.79 million from 1.66 million in May.
Added Ian Shepherdson, chief economist at Pantheon Macroeconomics: “Even after this dip, the number of openings leaped at a 20.4% annualized rate in the second quarter, to stand 11.4% higher than in June past year”.
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During June, employers laid off or discharged 1.8 million workers, according to the release. It has bounced between 1.9 percent and 2.0 percent since September 2014. Additionally, officials need to be “reasonably confident” that inflation will move back to its 2 per cent goal in the medium term.
