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U.S. job offers rose slightly to a record 9.2 million in May, government data showed.
U.S. employers hit a record number of job offers for the second month in a row. Highlighting the ongoing recruitment challenges, as the decline in economic activity creates a high demand for workers.
The number of jobs available on the last day of May rose slightly to 9.2 million, the U.S. Department of Labor’s Open Labor and Labor Turnover Survey (JOLTS) showed on Wednesday.
The number of Americans leaving their jobs fell from a record in May to 2.5% or 3.6 million in April.
The percentage of laid-off workers had a record in May, according to the JOLTS report.
The data show a tight labor market. Employers, in an effort to fill jobs, are doing everything they can to attract employees from hiring higher wages to attract bonuses and other incentives when hiring packages.
Many employees, on the other hand, feel confident that their current roles will leave them with opportunities to pay better in other companies.
The U.S. unemployment rate remained high at 5.9 percent in June from 5.8 percent in the previous month, the government reported in the first week.
Employment gains rose in June, government data showed, with companies adding 850,000 jobs, the highest monthly increase since last August.
Recruitment is looking for steam and rates of coronavirus vaccines continue to rise, while COVID-19 restrictions, such as mask orders and capacity limits in restaurants and places, continue to decline.
But the enduring effects of the pandemic continue to leave many potential workers out of and out of the labor market. It is also possible that many other factors, such as the challenges of kindergarten, may also contribute to staff shortages.
Some of those who have not returned to the job market are concerned about being exposed to other people due to catching the virus. Many older Americans also chose to retire earlier than planned in the pre-pandemic.
In times of millions of unemployed Americans, labor shortages have confused some economists.
Some believe the $ 300 federal charge for weekly unemployment benefits has provided a safety net until workers find a suitable opportunity to return to work. Some states have already suspended the benefit, which will expire in the U.S. by the end of the summer.
According to JOLTS data from the Department of Labor, jobs were expanded in restaurants and hotels, education and health services. They fell in the construction, financial and transport and storage sectors.
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