Job offers in the US increase to the maximum, layoffs reach an all-time low | Business and Economy News


Job vacancies in the United States rose slightly to a record 9.2 million in May, according to government data.

Employers in the United States recorded a record number of job offers for the second consecutive month, highlighting the persistent challenges in hiring, as the decline in economic activity generates a high demand for workers.

The number of positions available on the last day of May rose slightly to 9.2 million, according to the U.S. Department of Labor (Job Openings and Labor Turnover Survey) (JOLTS) on Wednesday.

The number of Americans who left work fell in May from a record high in April, but remains high at 2.5% or 3.6 million.

The percentage of laid-off workers hit a record low in May, according to the JOLTS report.

The data point to a tight labor market. Employers, who are struggling to fill jobs, are doing everything they can to attract workers from offering higher pay to including hiring bonuses and other incentives in package hiring.

Many workers, in turn, feel confident leaving their current roles to get better paid opportunities in other companies.

The U.S. unemployment rate remained high at 5.9% in June, up from 5.8% the previous month, the government reported last week.

Labor earnings rose in June, according to government data, as companies added 850,000 jobs, the largest monthly increase since last August.

Recruitment increases the rate of steam and coronavirus vaccine rates continue to rise, while COVID-19 restrictions, such as mask mandates and capacity limits on restaurants and venues, continue to decline.

But the persistent effects of the pandemic still keep many potential workers out of the job market and on the sidelines. A myriad of other factors, such as the challenges of caring for children, can also contribute to labor shortages.

Some of those who have not yet returned to the job market are concerned about catching the virus by being exposed to other people. Many older Americans also opted to retire earlier than planned for the pre-pandemic.

The shortage of workers at a time when millions of Americans are unemployed has baffled some economists.

Some assume that a $ 300 federal surcharge on weekly unemployment benefits has provided some safety net for workers to stop working again until they find the right opportunity. Some states have already stopped lending, which is expected to expire in the United States by the end of the summer.

According to JOLTS data from the Department of Labor, job offers increased in restaurants and hotels, education and health care. They fell in the construction, finance and transportation and storage sectors.

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