After nearly two years of being rangebound, between 5.5 and 6 million, the BLS’s JOLTS report – Janet Yellen’s favorite labor market indicator- showed that in June, the number of job openings soared by 461,000 from 5.7 million to a new all time high of 6.163 million, smashing expectations of a far more subdued print of 5.75K, and resulting in a job openings rate of 4.0%, also tied for record high.
The biggest increase in job openings was in the Professional and Business Services category, which rose by 179K, Education and Health services which rose by 123K, Construction up by 62K, and Trade transportation up by 41K. Curiously, even manufacturing job openings increased by 38K in June, while Other Services and Retail job openings both declined, by 62K and 42K, respectively. ). The number of job
openings increased in the Midwest and West regions.
Now if only employers could find potential employees that can pass their drug test…
This post was published at Zero Hedge on Aug 8, 2017.
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