Job openings increase slightly in March

Job openings increase slightly in March
US wholesale inventories tick up, job openings little changed
Author

13 May, 2017

Hiring edged up to 5.26 million from 5.25 million; the hiring rate held at 3.6%.

The number of openings was at 5.7 million on the last business day of the month, the monthly report from the Labor Department said.

U.S. wholesale inventories registered a small increase March from a month earlier, defying predictions for a minor contraction, while the number of job openings remained relatively unchanged during the same month.

These numbers bring both good and bad news.

The number of job openings hasn't risen that much since the middle of 2015. For instance, positions like electricians and carpenters are in short supply.

For reasons that economists continue to debate, recent wages gains have been relatively small by historical standards this late in a job recovery. Sluggish wage growth is a major reason why many Americans feel left out of the economy's recovery from the recession. The so-called JOLTS report also showed that, since the recession ended, the number of people willing to quit their job has almost doubled.

The quits rate, or the rate at which people voluntarily leave their job, came in at 2.1 per cent. More optimistic workers might feel comfortable leaving their current jobs because they believe they can find another quickly, or because they have already found another one. The April data recorded an increase in non-farm payrolls of over 200,000 while jobless claims remain at historically very low levels with continuing levels at the lowest level since 2000.


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