Job Openings Reached Record High in April

by Jan Frazier

Washington,  (Washington Insider Magazine) – The Bureau of Labor Statistics reported on Tuesday that employers in America claimed that there were 9.3 million job openings at the close of April.  This was “the highest number recorded since the government started collecting the data in 2000.”

According to the Job Openings and Labor Turnover’s monthly survey, 6.1 million workers were hired in April. This was a slight increase from March when 6 million workers were hired.

Unfortunately, in April, the employees quitting their jobs was at its highest while layoffs were at the lowest.

There are business concerns. The National Federation of Independent Business reported that small businesses felt less optimistic in May. This is because half of the owners of businesses said that they were unable to fill their openings with available workers.

The most job openings were reported by food services. The employers of food services were “rocked” by the coronavirus pandemic, but they are now experiencing the largest increase for new opportunities. This was according to an April finding. Manufacturing and other services follow closely behind the food service business.

What does all of this mean? “Economists say labor market tightness is giving workers more power in their job choices, especially in hospitality industry.”

Elise Gould, senior economist at the left-leaning Economic Policy Institute, said “High quits mean workers feel comfortable leaving their jobs in search of better matches. Low layoffs are an obvious good. The economic recovery is gaining momentum.”

Nick Bunker, director of research at the hiring website “Indeed,” said that there are certain businesses that are leading the way “where labor markets are already fairly tight or where hiring is ramping up.” These businesses include “leisure and hospitality, transportation and warehousing, and retail trade.”

SOURCE

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