US firms announced a record number of open jobs in June an indication that sound hiring of recent months will possibly continue. The labor department reiterated that job openings jumped 8% to 6.2 million. Even though there was an increase in jobs, hiring fell and number of people leaving their jobs also reduced.
The data indicates that employers are in need of skilled workers but are failing to find qualified workers. Usually employers will pay higher to lure more employees. However the government’s job report for July depicts that pay gains have declined.
On the rise were job openings in construction and manufacturing. The jobs increased in financial services, health care and in state and local government. The retail jobs saw a decline.
Transportation and warehousing, which has been uplifted in recent years by the rapid growth of e-commerce, also barely added jobs. President Donald Trump has accentuated announcements by Taiwanese manufacturer Foxconn and carmakers Toyota and Mazda to open plants in the U.S.
Other economic reports are addressing mingled signals. Americans are purchasing homes at a steady pace but car sales have declined. Factory products are enlarging at a modest pace. Service firms such as retailer, banks and construction companies are witnessing a slow growth. Consumers were cautious about their spending in June rather than in May.
The economy developed at a healthy rate at 2.6% annual pace in the April June quarter up from an insipid 1.2 percent in the first three months of the year.