Monday, August 4, 2025

Latest

US Job Openings Soar to Record 10 Million as Businesses Struggle to Fill Vacant Positions

In yet another testament that the US economy is indeed recovering a lot hotter than expected, the number of job openings in June skyrocketed past forecasts, as an increasing number of businesses struggle to fill vacant positions.

According to the Bureau of Labour Statistics’ Job Openings and Labor Turnover Survey (JOLTS), there were a total of 10.073 million job openings in June, up from an upwardly revised 9.5 million in May, and significantly above even the most optimistic forecasts calling for an increase of 9.27 million openings. The latest figures were made possible after 3.3 million jobs were added to the labour market in the last six months, marking the longest stretch of gains on record.

There were 3.4 million more vacancies than there were hires in June, while the number of workers that voluntarily left their positions rose to 3.9 million. Job openings were most prominent across the professional and business services, retail trade and accommodation and food services industries.

With the US economy quickly reopening amid a strong vaccine uptake, the demand for various consumer services, such as dining and travel, has been sent soaring. As a result, employers have been scrambling to fill previously furloughed positions, but the supply of labour has been running short as public health concerns, childcare obligations, and generous unemployment benefits keep Americans on the sidelines.

However, the labour supply is expected to recover over the next several months, as enhanced jobless benefits are slated to expire, and schools will reopen come September. Despite this, the surging delta variant continues to threaten further delays in the labour market recovery, particularly if health concerns among the public become heightened.


Information for this briefing was found via the BLS and Bloomberg. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

San Dimas: First Majestic Silver’s Sleeper Asset

New Gold Q2 Earnings: Record Free Cash Flow

STLLR Gold: The Tower Gold PEA

Recommended

Tsunami Warnings Spread As Largest Quake Since 2011 Hits Russia

Northern Superior Intersects 1.75 g/t Gold Over 65.0 Metres At Philibert

Related News

US Unemployment Rate Slides to 6.9% as October Job Growth Surpasses Expectations

October employment levels in the US came in better than expected, with the unemployment rate...

Friday, November 6, 2020, 04:19:00 PM

US Job Openings Soar to 2-Year High as Economic Improvement Continues

The US labour market continues to show signs of improvement, as job openings hit a...

Wednesday, April 7, 2021, 04:07:00 PM

Canada’s Unemployment Rate Falls to 8.5% in November as Labour Market Remains Resilient Amid New Lockdowns

Canada’s labour market remained resilient even though the month of November saw the reintroduction of...

Friday, December 4, 2020, 02:26:53 PM

Canada’s Labour Market Decelerates in October as Gains Normalize

Canada’s economy continued to add more jobs in the last month, as the easing of...

Saturday, November 6, 2021, 04:46:00 PM

US Bureau of Labour Statistics Releases Puzzling Employment Data

It appears that the US economy has been subject to what appears to be significantly...

Sunday, June 7, 2020, 11:07:00 AM