Economic Report: A job-seeker’s market: U.S. job openings hit another record high in June

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The numbers: The number of job openings rose to a record 10.1 million in June from a revised 9.5 million in the prior month, the Labor Department said Monday. That’s the fourth straight all-time monthly high.

Economists surveyed by Econoday expected job openings to rise to 9.29 million in June.

Big picture: The labor market is firming and businesses continue to seek workers. On Friday, the government reported a solid employment report for July with 943,000 new nonfarm payroll jobs created and the unemployment rate dropping sharply to 5.4%. The job-openings report is released with a one-month lag.

Many economists think the labor market data will allow the Federal Reserve to start tapering its bond purchases in November.

Market reaction: Stocks
SPX,
-0.17%

DJIA,
-0.31%

opened lower on Monday on worries about the delta coronavirus variant.