Job Openings in US Rises to a Record High In May

One of the great challenges that the economic recovery has implied across the entire country of the US is getting millions of Americans back to working life through the vacancies that are offered regardless of the industry. However, despite the enormous supply, millions of positions there are still free.

As per the data presented by the Labour Department, available job slots stood at a record 9.2 million in the month of May this year, while resignations fell slightly from an all-time high. But the number of vacancies is still unfilled. According to The Hill, the number of jobs opened in May changed little from the peak set in the month of April. 

Resignations fell to 3.6 million, in contrast to the record of 3.9 million in the same month, but remained well above the levels seen at the beginning of the year. Daniel Zhao, an economist at Glassdoor, stated in an analysis that people who are dedicated to labor recruitment are accepting that the demand for workers remains at record levels, so this situation is becoming a real problem. The Glassdoor representative said that for several companies, one of the great challenges is not only convincing Americans to fill the available positions, it is also able to retain the personnel they hire since employee turnover is not a sign of stability. 

Struggling to fill up the positions, many employers are adopting various measures, from offering higher pay to including hiring bonuses and other incentives in order to attract workers. In contrast, many employees are, in turn, at the peak of their career are confident and not skeptical enough to leave their current jobs for a better-paying option offered to them by another firm. 

The month of June was perhaps the most generous month in terms of hiring in 2021, adding 850,000 to the workforce, undoubtedly a significant increase compared to previous months, especially since the industry’s most affected by the pandemic hired mass.

Despite hiring skyrocketing in June, companies in the leisure, hospitality, and retail industries have struggled to attract enough workers to keep up with growing consumer demand. According to Labour Department figures, restaurants, bars, and hotels created 89,000 new openings in May before hiring 340,000 workers in June, but they were also one of the only sectors where resignations continued to rise. Undoubtedly, these resignations represent a problem for companies since job rotation does not allow them to consolidate the recovery they seek, especially because, as service sectors, they cannot serve customers in the way required, which ultimately affects the process of care and service.