Employers had 11.4 million job openings through late May. That would be a slight decrease from the estimate of 11.5 million job openings in March, the highest since records began in 2000. The number of times workers quit their jobs also reached a record high of 4.5 million in March.

Job openings are expected to level off in coming months because of strong consumer demand. There were about two job openings for every unemployed person looking for work in March. Nick Bunker, an economist at Indeed, said “We’re still in a very tight labor market, but it’s not as tight as it was at the end of last year or last summer.”

Bunker said job openings may remain robust for sectors such as leisure and hospitality because of a pent-up demand for activities like summer travel.

The high level of openings comes as fewer people are seeking employment compared with before the pandemic. The labor-force participation rate, which is the share of those employed/seeking work, has steadily recovered over the past two years.



Source: https://www.wsj.com/articles/job-openings-us-growth-labor-market-turnover-april-2022-11654043555