WASHINGTON U.S. job openings increased in June but remained below their pre-COVID-19 pandemic level, supporting the view that it could take the labor market years to absorb the tens of millions of unemployed people.
Job openings, a measure of labor demand, rose 518,000 to 5.9 million on the last day of June, the Labor Department said on Monday in its monthly Job Openings and Labor Turnover Survey, or JOLTS. Vacancies were below their level of 7 million in February. The job openings rate increased to 4.1% from 3.9% in May.
The report followed on the heels of news last Friday that the economy created 1.763 million jobs in July, decelerating from a record 4.791 million in June. The economy has regained 9.3 million of the 22 million jobs lost between February and April.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor
Source: News18