U.S. Job Openings Rise to 5.9 Million in June

Reuters cites new Department of Labor (DOL) data in reporting that U.S. job openings increased during June, but remained below their pre-pandemic level. The figures support the contention that it could take years for the labor market to absorb the tens of millions of unemployed people. "Job openings, a measure of labor demand, rose 518,000 to 5.9 million on the last day of June," the DOL noted in its monthly Job Openings and Labor Turnover Survey (JOLTS). The job openings rate increased from 3.9 percent in May to 4.1 percent. The research came after last Friday's report that the U.S. economy created 1.763 million jobs in July, decelerating from a record 4.791 million the month prior. The economy has regained 9.3 million of the approximately 22 million jobs lost between February and April.