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The number of job openings went up to 10.1 million on the last day of June, the highest on record, according to the U.S. Department of Labor (DOL) Bureau of Labor Statistics on Monday.

The professional and business services industry recorded the largest increase in job openings of 227,00. The retail trade industry added 133,000 while the accommodation and food services industry opened 121,000 jobs.

Economists were expecting the U.S. economy to have 9.1 million job openings in June, according to a Dow Jones survey. Their expectation was less than the 9.2 million job openings in May.

The Bureau of Labor Statistics also reported that the number of hirings increased to 6.7 million, an increase of 697,000 in June. Hirings in retail trade increased 291,00, local government education climbed 94,000, and durable goods manufacturing rose 94,000.

In June, the total number of separations including quits, layoffs, and discharges climbed by 254,000 to 5.6 million. The level of separations in the professional and services industry went up 124,00 and in the durable goods and manufacturing industry increased 48,000.

The number of separations in local government excluding education increased by 30,000. Total separations in state and local government education declined by 43,000.

"Over the 12 months ending in June, hires totaled 72.1 million and separations totaled 65.2 million, yielding a net employment gain of 6.9 million. These totals include workers who may have been hired and separated more than once during the year," according to the Bureau of Labor Statistics.

The U.S. economy and the labor force are recovering

In a note to investors, Indeed Hiring Lab director of research Nick Bunker commented, “Labor demand keeps getting stronger. This is the third straight month of record-breaking job openings." He added, “The quits rate is also close to its all-time high, which was set just two months ago in April. This wave of demand will eventually recede, but job seekers should ride it until then.”

Last Friday, the Bureau of Labor Statistics reported that the U.S. economy added 943,000 jobs and the unemployment rate declined to 5.4% in July. The number of unemployed individuals dropped 782,000 to 8.7 million.

The leisure and hospitality industry added 380,000 jobs, local government education added 221 jobs while private education added 40,000 jobs. The professional and business services industry created 60,000 jobs while the leisure and hospitality industry added 380,000 jobs last month.

"Our labor force is healing, our economy is reopening, and people are getting back to work, but we still have a way to go. Economic recovery depends on our commitment to public health, so I urge every eligible person to get vaccinated against COVID-19 who has not done so already. It’s how to protect yourself, protect your family, and help our economy move forward," said DOL Secretary Marty Walsh in a statement last Friday.

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