Job vacancies surge to a record high of 8.1 million

US employers posted a record number of jobs in March, demonstrating the despair of companies looking for new workers as the economy expands after the pandemic recession.

Still, according to a Labor Ministry report issued Tuesday, total employment increased only slightly.The numbers come after Friday’s report shows an increase in jobs in April Far below expectationsThis is mainly because companies seem to be unable to find the workers they need, even though the unemployment rate has risen to 6.1%.

According to the government, job vacancies in March increased by nearly 8% to 8.1 million, the highest recorded since December 2000. Still, overall recruitment in March increased to less than 4% to 6 million. The number of jobs is total, but the government’s employment report (which states that 770,000 jobs were added in March) uses the net total.

Opening rates were highest in the leisure and hospitality industry, durable consumer goods manufacturing, professional and business services.

A separate survey from the National Federation of Independent Businesses released on Tuesday stated that a record number of business owners (44%) were unable to fill jobs.

Report “[add] Oxford Economics economist Lydia Busser proves in a study note that employers are scrambling to find qualified workers and are not keeping up with the surge in labor supply. There are. ”

“The number of resignations increased the most in six months, as a sign that workers are becoming more and more confident of leaving their current positions,” she added.

The number of jobs is well below the 9.8 million workers who said they were unemployed and looking for a job in April. But high levels of unemployment, in addition to state payments on average about $ 320, an additional $ 300 in weekly federal unemployment aid discourages those who are absent from looking for new jobs? It could fuel a political debate about what to do.Many Republicans in Congress claim so, and so far five states have Moved to block $ 300 paymentsThe latest state to consider such a move in Georgia.

President Joe Biden, who included additional money in the $ 1.9 trillion bailout package approved in March, argued that it was due to an additional $ 300 payment on Monday. However, he also urged the Ministry of Labor to work with the state to renew the requirement that people receiving assistance look for a job and, if offered, have to get a job. Job hunting rules were suspended during a pandemic in which many companies were closed.

“Anyone who is collecting unemployment who has been offered the right job needs to get the job or lose the unemployment benefits,” Biden said.

Many people who are absent from work are also reluctant to get a job in the service industry, which requires contact with the public, for fear of being infected with COVID-19. And many women aren’t looking for a job because they haven’t been able to find childcare for their children who are still at home and taking online classes for at least part of the week.

Michael Pierce of Capital Economics said in a research note that while many of the factors that impede workers are temporary, “long-term factors are also involved.” While semiconductor shortages are pushing down employment in the automotive manufacturing industry, high entrepreneurship rates in manufacturing, professionals and business services “suggest that skill mismatches are holding back these sectors.” He said.

Irina Ivanova of contributed to the press.

Job vacancies surge to a record high of 8.1 million

Source link Job vacancies surge to a record high of 8.1 million

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