Job openings in the U.S. rose in June to the highest level in four years, indicating employment gains may accelerate in the second half of the year.
The number of positions waiting to be filled climbed by 105,000 to 3.76 million, the most since July 2008, from a revised 3.66 million the prior month, the Labor Department said today in Washington. Hiring and firings cooled.
A rising need for workers shows some employers are expanding as sales improve, laying the ground for a pickup in hiring that may help boost consumer spending, which accounts for about 70 percent of the economy. Payrolls rose more than forecast in July even as the unemployment rate climbed to a five-month high, the Labor Department reported last week.
Hopefully this is a sign of coming strength in the labor market and a long-awaited reduction in the unemployment figures.