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U.S. job openings rose to a record high in July.
The strong labor market fundamentals could encourage the Federal Reserve to continue tightening monetary policy this year despite inflation persistently running below the U.S. central bank’s 2 percent target.
“Employers need skilled labor and experienced workers, which continues to suggest the economy has returned to a labor market that does not need exceptional support from the Fed,” said John Ryding, chief economist at RDQ Economics in New York.
Job openings, a measure of labor demand, increased by 54,000 to a seasonally adjusted 6.2 million. That was the highest level since the data series started in December 2000.
Job openings have now been above 6 million for two straight months.
Hiring increased 69,000 to 5.5 million in July, lifting the hiring rate to a near high of 3.8 percent from 3.7 percent in June.
http://www.reuters.com/article/us-usa-economy-jobs/u-s-job-openings-at-record-high-qualified-workers-scarce-idUSKCN1BN2AC
