Job openings across the country reached record highs in July, increasing the demand for qualified workers in Pennsylvania and nationwide, according to a staff report from The New York Times.
The monthly Job Openings and Labor Turnover Survey released by the Labor Department last week showed that the scarcity of qualified workers continues to tighten the labor market.
In fact, the strength of the labor market fundamentals could make the Federal Reserve tighten monetary policy this year, even though inflation is still within the two percent target range.
“Employers need skilled labor and experienced workers that are in short supply, said John Ryding, chief economist at RDQ Economics in New York.
Job openings in July grew by 54,000 to a seasonally adjusted 6.2 million the highest level since December 2000, and have now been at over 6 million for two consecutive months.
The increase in job openings has mainly come in transportation, warehousing and utilities, along with educational services and construction.
However, manufacturing saw a drop in job openings, as did health care and social assistance. Federal government vacancies are also down by around 21,000.
Read more about the trend in job openings across the country at The New York Times by clicking here.