Market Updates
Record U.S. Job Openings and Quits in March Indicating Tight Labor Conditions
Brian Turner
03 May, 2022
New York City
The number of available jobs and job resignations reached the highest levels in March since the record keeping began in December 2000, the U.S. Bureau of Labor Statistics reported today.
Seasonally adjusted new hires in the month increased to 6.5 million and total separations increased to 6.3 million which included 4.5 million resignations and 1.4 million layoffs.
The number of job openings was little changed at 11.5 million, the highest level in the history of the series.
Over the month, the job openings rate was little changed at 7.1%.
In March, the number of quits edged up 152,000 to a series high of 4.5 million. The rate was little changed at 3.0%.
Quits increased 88,000 in professional and business services and 69,000 construction.
Over the 12 months ending in March, hires totaled 77.7 million and separations totaled 71.4 million, yielding a net employment gain of 6.3 million.
These totals include workers who may have been hired and separated more than once during the year.
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