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Job Openings at New 3-Year Low

Job openings fell in April and reached a new three-year low, according to seasonally adjusted data released today by the US Bureau of Labor Statistics. They were at their lowest since February 2021.

Job openings fell by 296,000 in April and were down by 1.8 million year over year.

Hires edged up by 23,000 in April for a total of 5.64 million.

Quits also inched up in April by 98,000 compared to March to a total of 3.5 million. However, layoffs/discharges fell by 86,000 in April.

“Overall, job openings are still elevated, signaling strong demand for workers,” Rubeela Farooqi, chief US economist at High Frequency Economics, said in a report by ABC News. “But they continue to move in the right direction, towards pre-pandemic readings, pointing to an ongoing normalization between supply and demand for labor.”

Source: Staffing Industry Analysts

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