United States employers post 6.6 million open jobs


There was a record 6.6 million job openings at the end of March, the Labor Department reported on Tuesday.

Last month the number of job openings was greater than the number of unemployed for the first time since 2001. Task openings altogether increased by 472,000 above February.

The openings took place during a month when nonfarm taxpayers hiring climbed by 135,000, according to the Bureau of Labor Statistics, which releases both month-to-month jobs record and also the JOLTS poll. Gains were dispersed across geographical regions, together with the South coverage 1.41 million. That should discourage advertising more jobs.

There were 112,000 additional vacancies in the professional and business services industries. The fact will likely be noted by Federal Reserve policy makers; the previous chair, Janet Yellen, often cited data from the Job Openings and Labor Turnover Survey, or JOLTS.

With rising vacancies nearly helping to close the gap with the ranks of the unemployed, the job market is increasingly tight.

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So where are all the job openings? Wages rose at almost a 4.5 percent clip the last time the unemployment rate fell below 4 percent.

About 3.3 million Americans voluntarily quit their jobs in March, up from 3.2 million in February.

"Quits are also a source of upward pressure on wages", said Sarah House, a senior economist at Wells Fargo Securities in Charlotte, North Carolina.

The job market appears to be tilting in favor of workers and job-seekers. But other gauges of wage growth have been more robust. That should be pushing up wages, yet paychecks are growing at only a modest pace.

Layoffs fell 56,000 to 1.56 million in March.