US job openings soar to record high of 5.8 million in July

The number of available jobs jumped sharply in July to the highest level in 15 years, evidence that confident employers sought to step up hiring to meet greater demand for their goods and services.

The Labor Department says job openings soared 8 percent to 5.75 million, the most since records began in 2000. Yet overall hiring slumped, suggesting that employers are slow to fill the jobs they have advertised.

The big jump in openings in July would typically point to greater hiring in the months ahead. Yet China's economy stumbled in August, raising fears among investors of weaker global growth and causing violent swings in the U.S. and overseas stock markets.

That may cause employers to take a cautious approach in coming months toward actually placing people in open positions.
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