A report from the Labor Department on Friday showed there are 8.7 million unemployed jobseekers at about the same time that job placement website Indeed estimated there are about 9.8 million openings, revealing there is a booming job market as the country reopens amid the pandemic.

The economy added 943,000 jobs in July in the best monthly showing since August 2020. The unemployment rate has dipped to 5.4%, a strong rebound from 14.8% in April 2020.

The economy has created 4.3 million jobs in 2021. The numbers are a big victory for the Biden administration, which pushed for the American Rescue Plan and the American Jobs Plan that was paid for by the Made in America Tax Plan.

"More than 4 million jobs created since we took office. It's historic - and proof our economic plan is working," President Joe Biden posted on Twitter.

There has been strong job growth in the hospitality industry as well as the loading and stocking industry.

Millions of Americans have dropped out of the workforce but the improving labor market can potentially lure them back. Large and small companies are incentivizing new job openings.

E-commerce giant Amazon recently raised its minimum wage and has offered new employee incentives.

“We certainly see stronger demand for workers,” Brian Olsavsky, Amazon’s chief financial officer, told reporters in a July conference call. “So far, we’ve had good success in hiring them with our wage and benefit package that’s pretty competitive. So we’re watching it carefully. But it’s probably one of the bigger elements of inflation in our business right now.”

Wawa, the convenience store chain, announced plans in May to hire thousands of employees, while also offering a $500 bonus for new hires.