U.S. job openings push higher; more workers quitting – Reuters Canada

WASHINGTON (Reuters) – U.S. job openings increased further in July, though more workers quit their jobs in the retail as well as professional and business services industries likely because of fears of exposure to COVID-19 and problems with childcare.FILE PHOTO: FILE PHOTO: Job seekers apply for the 300 available positions at a new Target retail…

U.S. job openings push higher; more workers quitting – Reuters Canada

WASHINGTON (Reuters) – U.S. job openings increased further in July, though more workers quit their jobs in the retail as well as professional and business services industries likely because of fears of exposure to COVID-19 and problems with childcare.FILE PHOTO: FILE PHOTO: Job seekers apply for the 300 available positions at a new Target retail store in San Francisco, California August 9, 2012. REUTERS/Robert Galbraith/File Photo/File PhotoDespite the surge in vacancies reported by the Labor Department on Wednesday in its monthly Job Openings and Labor Turnover Survey, or JOLTS, the number of unemployed people competing for a new job remained relatively high in July.“The labor market recovery will be measured in years, not months,” said Chris Rupkey, chief economist at MUFG in New York.Job openings, a measure of labor demand, jumped 617,000 to 6.6 million on the last day of July. Still, vacancies remain below their level of 7 million in February.Job openings were led by the retail sector, with 172,000 new vacancies. There were an additional 146,000 jobs in healthcare and social assistance. In the construction industry, job openings increased by 90,000. The job openings rate shot up to 4.5%, the highest since October 2019, from 4.2% in June.U.S. financial markets were little moved by the data.The number of people voluntarily quitting their jobs increased 344,000
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