Available jobs continue to increase as the economy reopens reaching record levels in April, according to the latest data from the Bureau of Labor statistics (BLS)
- Job openings reached 9.3 million on the last business day of April. This was an increase of 998,000 from the previous month and a series record that has been tracking data going back to December 2000.
- Job openings were up 100% when compared to the same time last year when openings were at 4.6 million.
Despite the 12% jump in job opening, hiring was relatively flat…
- Hires changed little at 6.1 million. The hires rate was unchanged at 4.2%.
- Hires were up 54.1% when compared to the same time last year when hires were at 3.9 million.
An interesting data point was the level of quits in April. The quits level and rate increased to series highs of 4.0 million and 2.7 percent, respectively. This backs up the arguments being made by economists like Neil Irwin at The New York Times….
- “The relationship between American businesses and their employees is undergoing a profound shift: For the first time in a generation, workers are gaining the upper hand.” (NYT)