Number of Job Openings is at Record Highs

The Labor Department reported Wednesday that the number of job openings in the United States is currently at record highs. It may sound like good news, but a large number of job openings means that companies are unable to find proper candidates for the positions offered.

Chris Rupkey, chief economist at MUFG Union Bank in New York, explained that, “There are millions of jobs going begging right now in what has got to be one of the biggest mismatches between skills and lack of qualified help available in the nation’s history… The economy seems strong enough to weather a rate hike.”

Job openings have increased by about 228,000, reaching 5.9 million, which the highest number since the series begun in the end of 2000.

The Labor Department also reported that more people feel confident in their financial situation, therefore about 3 million Americans have voluntarily quit their jobs in the month of July. The rate of quitting is at 2.1% a second month in a row, an increase from the 1.3% in 2010.

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