Advertised job openings soared in July to 5.75 million, the Labor Department reported Wednesday.
That was the most since the agency started keeping track in 2000, far eclipsing the previous record of 5.36 million set in May.
Hires, however, ticked down from 5.18 million to 4.98 million, according to the agency’s Job Openings and Labor Turnover Survey, which provides information about gross hiring and layoffs.
The survey also showed that workers are not becoming more comfortable quitting their jobs. The quits rate in July was 1.9 per 100 jobs, the same rate it’s been most of the year. Rising quits are viewed as a positive sign, since they suggest that workers are confident enough in the jobs outlook to leave an existing job.
The numbers reported Wednesday in the Job Openings and Labor Turnover Survey, or JOLTS, are released on a one-month lag behind the monthly payroll jobs. Nevertheless, they are closely watched by officials at the Federal Reserve and investors in the private sector because they include more detailed information about hiring, firing, and other labor market trends.
July’s spike in advertised job vacancies will factor into the Fed’s decision-making at its upcoming monetary policy meeting next week, although the statistics predate the stock market swings in recent weeks that have given policymakers concern. Chairwoman Janet Yellen, in particular, has cited openings, as well as quits, as an indicator she watches.
U.S. labor markets have shown clear improvement over the past year. The unemployment rate has fallen a full percentage point, from 6.1 percent last August to 5.1 percent last month. The economy has added 2.9 million payroll jobs during that time.
Nevertheless, Wednesday’s numbers will be scrutinized for signs of whether that recovery may be speeding up or losing momentum. The pace of job creation throughout 2015 has so far been slower than it was in 2014.
One positive sign is that there were far more jobs available for each unemployed worked in July. For each job vacancy, there were 1.4 unemployed workers, down from 1.6 the month before and almost as high as 7.0 during the depths of the recession.
No particular industries had particularly significant changes in hiring in July. Over the past year, hiring has been strongest for hotels and restaurants, as well as the federal government.
