While economists talk about the labor market cooling, there were 9.6 million job openings in June, down only 34,000 from May.
Why it matters: There are now 3.6 million more job openings than unemployed workers. The worker shortage continues to be a major challenge for employers.
Be smart: The labor market remains tight. Hiring in June remained at the same level as in May, and quits dropped slightly.
- Businesses are still adding workers, and workers are still confident they can quit their current jobs and find better ones easily.
Bottom line: A persistent labor shortage may be the new normal for employers. Click here to learn more.