WASHINGTON — Employers posted a report 11.5 million job openings in March, which means the United States now has an unprecedented two job openings for each one who is unemployed.
The newest information launched by the the Bureau of Labor Statistics additional reveals a very tight labor market that has emboldened hundreds of thousands of Americans to hunt higher paying jobs, whereas additionally contributing to the largest inflation surge in 4 a long time.
A report 4.5 million Americans give up their jobs in March — an indication that they’re assured they will discover higher pay or improved working circumstances elsewhere.
Layoffs, which had been working round 1.8 million a month earlier than the pandemic hit the economic system in early 2020, ticked as much as 1.4 million in March from 1.35 million in February.
The U.S. job market is on a scorching streak. Employers have added a median of greater than 540,000 jobs a month for the previous yr. The Labor Department is anticipated to report Friday that the economic system generated one other 400,000 new jobs in April, in line with a survey by the info agency FactSet.
“Employees have strong job security and confidence in their ability to find new work,” mentioned Nick Bunker, director of financial analysis on the Indeed Hiring Lab. “The labor market is still very much a job seeker’s market. Something dramatic will have to happen for this to change anytime soon.”
Source: www.bostonherald.com”