Some more cheery news for the U.S. economy; job openings stateside ticked up in June.
Figures released by the U.S. Bureau of Labor Statistics -- in its Job Openings and Labor Turnover Survey (JOLTS) -- revealed the number of job openings rose 5.6 million in June, from 5.5 million the previous month.
The JOLTS report also showed that the quits rate, or the rate at which people voluntarily leave their job, held steady at 2% in June.
This measure in particular is a favourite of the Federal Reserve as a higher number serves as an indicator of workers’ confidence in the U.S. labour market and their ability to find a new job.
The JOLTS data comes after the more closely-watched jobs report showed that the U.S. economy created 255,000 jobs in July, after adding 292,000 jobs in June. July non-farm payrolls also showed that the labour force participation rate, the proportion of the working-age population that is either employed or actively seeking work, climbed for the second straight month.
The Fed is closely watching for signs of health in the labour market and wage pressures as it determines when to next raise interest rates.
