Job openings soar to 10.9 million as companies struggle to fill positions

  

Category:  News & Politics

Via:  perrie-halpern  •  one month ago  •  17 comments

By:   Jeff Cox

Job openings soar to 10.9 million as companies struggle to fill positions
Job openings outnumbered the unemployed by more than 2 million in July as companies struggled to fill a record number of vacancies, the Labor Department reported Wednesday.

S E E D E D   C O N T E N T



Job openings outnumbered the unemployed by more than 2 million in July as companies struggled to fill a record number of vacancies, the Labor Department reported Wednesday.

The department's Job Openings and Labor Turnover Survey, which the Federal Reserve watches closely for signs of slack in employment, showed 10.9 million positions open. That was much higher than estimates of 9.9 million, and also the June total of 10.18 million.

That number swamped the 8.7 million level of those out of work and looking for jobs in July. JOLTS data runs a month behind the regular nonfarm payrolls report, which reported growth of 1.05 million for July.

Hiring slowed sharply in August, with payrolls growing by just 235,000 even as the total unemployed dipped to just shy of 8.4 million.

The rate of job openings measured against the total labor force swelled to 6.9 percent in July, up from 6.5 percent the previous month and 4.6 percent a year ago.

The rate jumped to 10.7 percent from 10.2 percent in the critical leisure and hospitality field, which suffered the most during the Covid-19 pandemic. Openings rose to 1.82 million, a total gain of 134,000 from June.

Financial activities also saw a big gain in openings, with the rate rising to 5.8 percent from 3.8 percent, representing more than 200,000 new positions available. Government openings also increased substantially, to 4.6 percent from 4.2 percent, or a gain of nearly 100,000.

Regionally, the Northeast rate rose to 7 percent from 6.2 percent. Despite being hit hardest by new Covid cases, the South continued to have the highest level of job openings at 7.1 percent, an increase of 226,000 from June.

The hires rate actually dipped for the month, to 4.5 percent from 4.7 percent, while the quits rate, seen as a barometer of worker confidence, was unchanged at 2.7 percent. Layoffs and discharges nudged higher to 1 percent.


Tags

jrDiscussion - desc
[]
 
JohnRussell
Professor Principal
1  JohnRussell    one month ago

People dont want to work for 12 dollars an hour anymore. 

 
 
 
Sean Treacy
Professor Expert
1.1  Sean Treacy  replied to  JohnRussell @1    one month ago
ople dont want to work for 12 dollars an hour anymore. 

Which is cool. But then don't expect handouts either. 

 
 
 
Trout Giggles
Professor Principal
1.2  Trout Giggles  replied to  JohnRussell @1    one month ago

No, they don't. The Taco Bell near work is trying to get employees by offering them free food. I drive past fairly often and they have signs:

'NOW HIRING! FREE FOOD!"

 
 
 
Kathleen
Professor Principal
2  Kathleen    one month ago

When you can get paid that extra unemployment while you sit home... why work?

They are offering $17 an hour around my way. 

 
 
 
JBB
Professor Principal
2.1  JBB  replied to  Kathleen @2    one month ago

In 1975 I earned $5 an hour for hard unskilled labor. It would take $35-40 per hour today to equal that. The problem is that those jobs pay $15-20 today...

Many people still work for way less than that now.

 
 
 
Just Jim NC TttH
Senior Principal
2.1.1  Just Jim NC TttH  replied to  JBB @2.1    one month ago

Close sort of................

$5 in 1975 is equivalent in purchasing power to about  $25.37  today, an increase of $20.37 over 46 years. The dollar had an average inflation rate of  3.59% per year  between 1975 and today, producing a cumulative price increase of  407.44% .

But I get our point.

 
 
 
Kathleen
Professor Principal
2.1.2  Kathleen  replied to  JBB @2.1    one month ago

The $17.00 was actually a fast food place. Other types of employment may pay more.  It just strikes me funny that these job openings were filled before Covid hit, they didn’t complain then.

 
 
 
JBB
Professor Principal
2.1.3  JBB  replied to  Just Jim NC TttH @2.1.1    one month ago

2013 was eight years ago. We had inflation.

 
 
 
Just Jim NC TttH
Senior Principal
2.1.4  Just Jim NC TttH  replied to  JBB @2.1.3    one month ago

Didn't click on the link did ya. 2013 is just the date of the site NOT the comparison. Not surprised.

If you had, you'd have seen it was a comparison of 1975 to 2021.

 
 
 
Texan1211
Professor Principal
3  Texan1211    one month ago

More jobs than people willing to fill them.

Sounds like the perfect opportunity for unions, so I wonder why their numbers aren't increasing?

Does this situation NOT favor employees?

 
 
 
sandy-2021492
Professor Principal
4  sandy-2021492    one month ago

I think employers need to examine objectively the jobs they're offering.

Is the pay decent?

Will employees be getting enough hours to make decent money?  I know a lot of fast food joints are hiring, and are offering a higher wage than they used to.  Are they allowing employees to work full time?  Probably not, because...

Does the job come with benefits - health insurance, retirement plan?  And if so, will employees actually be able to access these, or are they only available to full-time employees who don't actually exist?

 
 
 
Ronin2
Masters Quiet
5  Ronin2    one month ago

This is what happens when the federal government butts in and pays people not to work. Why work when you can get paid to do nothing?

Those who are unemployed expect the government to continuously pass extensions; and so far they aren't being disappointed.

The race to the bottom has begun; and it is being lead by Democrats (of course).

 
 
 
JohnRussell
Professor Principal
5.1  JohnRussell  replied to  Ronin2 @5    one month ago

The race to the bottom, for wages , began when capitalism took hold. The success of capitalism is predicated on paying workers the lowest salary possible. 

 
 
 
Jeremy Retired in NC
Senior Participates
6  Jeremy Retired in NC    one month ago

Minimum skill = minimum pay.  People have to improve their skill to deserve better pay.  Burger King and Taco Bell are not places to make a career.

The company I work for his constantly hiring.  Most positions start around $14 - $20 an hour.  The problem we are seeing is that many might have the qualifications for the job but don't meet the requirements to be able to get to work.  

 
 
 
Kathleen
Professor Principal
6.1  Kathleen  replied to  Jeremy Retired in NC @6    one month ago

That’s true, high school, college kids that want job experience and some extra money. Seniors that want some extra money and enjoy getting out too.

I have seen wanted signs all over the place and not fast food. Retailers, restaurants and car places too. 

 
 
 
Jeremy Retired in NC
Senior Participates
6.1.1  Jeremy Retired in NC  replied to  Kathleen @6.1    one month ago

We've all seen them.  But most of them think they qualify for a high 5 figure or 6 figure salary. Sadly they barely qualify for a 4 figure salary. 

 
 
 
JohnRussell
Professor Principal
7  JohnRussell    one month ago
As of May 20, 2021, the average annual pay for a Home Health Care Worker in the United States is   $22,776   a year. Just in case you need a simple salary calculator, that works out to be approximately $10.95 an hour . This is the equivalent of $438/week or $1,898/month.
original
www.ziprecruiter.com/Salaries/Home-Health-Care-Worker-Salary
 
 
Loading...
Loading...

Who is online








JohnRussell
Ozzwald
SteevieGee
Jack_TX
GregTx


23 visitors