Another Record in Job Openings Signals Labor Demand is Not the Problem

Summary Job openings climbed to a fresh record high of 10.93 million at the end of July. While the rise in COVID cases since then has taken some wind out of the labor market’s sails, more recent indicators of hiring plans suggest labor demand has held up well in the face of Delta. The level of job openings and quits continue to indicate that the labor market is stronger than the unemployment rate suggests. Job Openings and Hiring Plans Remain Elevated Focus has been on the supply of labor lately as the myriad of factors keeping workers out of the labor force were expected to ease this time of year. Yet just as some these constraints such as additional unemployment benefits have started to fade, fears of demand cooling amid the latest rise in COVID cases have grown. The latest job openings data from the JOLTS report, however, suggest that despite these fears, labor demand remains quite strong. Job openings at the end of July climbed to yet another record high, reaching 10.93M. READ FULL ARTICLE>>