U.S. Economy has 11.3 million unfilled jobs

There are 11.3 million open jobs in the U.S., nearly two jobs for every American seeking work, according to newly released federal data. That rate is nearly the highest on record as the number of available jobs per worker has sharply risen in recent months.

The Bureau of Labor Statistics released the federal jobs data, which showed a decrease of nearly half a million available jobs in May.

“On the last business day of May, the number and rate of job openings decreased to 11.3 million (-427,000) and 6.9 percent, respectively,” BLS said. “Hires and total separations were little changed at 6.5 million and 6.0 million, respectively. Within separations, quits (4.3 million) and layoffs and discharges (1.4 million) were little changed. This release includes estimates of the number and rate of job openings, hires, and separations for the total nonfarm sector, by industry, and by establishment size class.”

The job openings vary largely by industry and the size of the business.

“The largest decreases in job openings were in professional and business services (-325,000), durable goods manufacturing (-138,000), and nondurable goods manufacturing (-70,000),” BLS said. “In May, the job openings rate decreased in establishments with 250 to 999 employees. The quits rate decreased in establishments with 250 to 999 employees and in establishments with 5,000 or more employees.”

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