Job openings south of the border decreased in February by the most since 2015 while still exceeding the number of unemployed Americans, a sign of some potential relaxation in what’s been a consistently tight labour market.
Figures released Tuesday by the U.S. Labor Department showed the number of positions waiting to be filled decreased by 538,000 to 7.09 million from an upwardly revised 7.63 million in the prior month. The number is called the Job Openings and Labour Turnover Survey, or JOLTS The quits rate held at 2.3% for a ninth straight month, indicating Americans feel confident in their ability to find new employment.
The department went on to say the fairly large decline may reflect temporary factors after an unexpectedly weak February jobs report, which was followed by a hiring rebound in March that suggests employment gains remain broadly intact. The JOLTS report lags other Labor Department data by a month, but it adds context to monthly employment figures by measuring dynamics such as resignations and hiring.
The data signal employers may be having an easier time finding workers even amid historically low unemployment and wage gains near the best pace of the expansion. Employers have struggled to attract employees and fill positions in recent months despite steady pay gains.
