Market Updates
Job Openings Dropped to a 3-year Low In April
Brian Turner
01 May, 2024
Washington, D.C.
Job openings in March declined by 325,000 and dropped to the lowest level since February 2021, signaling moderating labor market conditions.
Job postings fell 0.2 percentage points to 5.1% of all workers, according to the Job Openings and Labor Turnover Survey released Wednesday.
Openings declined by 1.1 million from a year ago, as openings in construction fell by 182,000, declined in finance and insurance by 158,000, but increased in state and local government education by 68,000.
Over the month, both hiring and separations changed little, indicating labor market conditions are still tight but rapidly easily after openings peaked at 12.2 million in March 2022.
In March, hirings declined by 455,000 to 5.5 million, while the total number of separations decreased by 339,000 to 5.2 million.
Taking into account the regional distribution, job openings in the West fell by 194,000, in the Midwest by 112,000, in the South by 41,000, but rose in the Northeast by 22,000.
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