U.S. job openings significantly rose in July, government report showed on Wednesday, a sign that majority of various business industries are getting ready to expand as the economic status of the country recovers from the recent recession that shed thousand of jobs.
According to the Labor Department’s Job Openings and Labor Turnover Survey, US job openings rose by 178,000 to a seasonally adjusted 3.04 million, up from 2.86 million in June and 2.34 million in July 2009. However, the revised June’s data showed there were about 73,000 fewer openings than previously reported.
The hotel and tourism or majority of the hospitality industry boosted job openings by 18% between June and July, while the healthcare sector and education organizations offered 9.4% more job openings and the construction job openings recoded 43% job opening increased in July, according to the report.
Heidi Shierholz, an economic expert at the Economic Policy Institute in Washington said:
“The ratio of unemployed workers per job opening is still much higher than at the worst point in the early-2000′s recession, when it peaked at 2.8 unemployed workers per job opening in September of 2003. For the first half of 2007 before the current downturn began, the ratio averaged 1.5-to-1. July’s value, at 4.8-to-1, was over three times that high.”
According to Bloomberg, President Obama is planning to propose to expand tax cuts for businesses and boost the federal spending on the national transportation system to help strengthen the economy. On September 6, the President began some of the initiatives by calling for $50 billion to start repairing roads, railways, and runways and to streamline the air-traffic control system.