job

August 11, 2016 Comments Off on Job Openings Increase, Layoffs Decrease Views: 354 National News, New York, Northeast

Job Openings Increase, Layoffs Decrease

The U.S. Labor Department’s monthly Job Openings and Labor Turnover Survey (JOLTS) reported an increase in job openings in June. At the same time, job layoffs dropped to their lowest levels in nearly two years.

Job openings measure labor demand, and in June, openings rose 110,000 to a seasonally adjusted 5.6 million (3.8% increase). Layoffs fell to 1.6 million in June, from 1.7 million.

The report also suggested a tightening labor market and growing skill shortage. “It is clear that demand for labor is not the problem and there is nothing monetary policy can do to address a mismatch between the needs of employers and the skills of job seekers,” said John Ryding, chief economist at RDQ Economics in New York.

Read More at Reuters

Connect With RDQ Economics

For comments, questions or concerns, please contact Amy Sorter

Share on FacebookTweet about this on TwitterShare on LinkedInEmail this to someone

Tags: , ,

Comments are closed.