U.S. job openings increased to over 10 million, the highest on record

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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.