Job Openings Shatter Previous Record, Reach All-Time High
The American economy hit a record in August for the number of job openings, according to federal data released Tuesday.
As of Aug. 31, there were 7.136 million job openings in the country, according to data from the Bureau of Labor Statistics. The number eclipsed the previous record of 6.9 million job openings that was set in July, according to Marketwatch.
The report also noted that 5.78 million Americans were hired in August. Both were record levels for the Job Openings and Labor Turnover Survey (JOLTS), which was instituted in 2000.
Data also showed more employees quitting their jobs, something at least one expert said was a very good sign.
“The fact that record numbers of workers are voluntarily quitting their jobs suggests that they are finding substantially better opportunities elsewhere in the economy,” said Julia Pollak, a labor economist at ZipRecruiter, CNBC reported.
The data showed that in the Trump economy, there are more jobs to be filled than workers to fill them.
There were nearly 1 million more job openings in August than unemployed workers. Ratio of job seekers to job openings is the lowest on record. #joltshttps://t.co/gRAJfT6CuF pic.twitter.com/santisTiqM
— Ben Casselman (@bencasselman) October 16, 2018
President Donald Trump, who has made economic growth a cornerstone of his policies, tweeted his reaction to the report.
“Incredible number just out, 7,036,000 job openings,” Trump wrote, apparently typing the number incorrectly. No Department of Labor of Bureau of Labor Statistics report includes the number Trump used.
“Astonishing – it’s all working! Stock Market up big on tremendous potential of USA. Also, Strong Profits. We are Number One in World, by far!”
Incredible number just out, 7,036,000 job openings. Astonishing – it’s all working! Stock Market up big on tremendous potential of USA. Also, Strong Profits. We are Number One in World, by far!
— Donald J. Trump (@realDonaldTrump) October 16, 2018
A second Department of Labor report released Tuesday noted that wages are now rising, Marketwatch reported.
Economic Report: Another report shows worker pay is rising: The usual weekly earnings of a typical U.S. worker rose during the third quarter at the fastest pace in a year, according to new data released Tuesday. https://t.co/m97PmkxJCQ MARKETWATCH
— FinanzLinksUSA (@FinanzLinksCom) October 16, 2018
The median earning for full-time work is now $893 per week, the report said. That’s up 3.1 percent from the third quarter of 2017. A median rate means that half of those in full-time jobs made more than that; half made less.
Trump daughter and White House adviser Ivanka Trump noted that the administration is working to help those without the skills to get emerging jobs overcome that gap.
Hires set a new high of 5.8 Million in August.
Job openings (vacancies) also hit a series high of 7.1 Million.
The National Council for the American Worker is seeking to ensure that ALL Americans have the skills they need to secure well paying careers in this booming economy!
— Ivanka Trump (@IvankaTrump) October 16, 2018
The economy’s growth has been achieved despite a lack of information about the economy form the mainstream media, according to a new report.
A Media Research Center analysis of media coverage about Trump from June through September found that of 1,906 minutes of air time ABC, NBC and CBS devoted to the Trump administration, 92 percent of it was negative.
“Amid this sea of coverage, the networks spent almost no airtime — a mere 14 minutes, or 0.7 percent — on the administration’s economic achievements, including the positive effects of the tax cuts and deregulation, plus historic job growth,” MRC reported.
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