US job openings fall to 8.5 million in March, the lowest level in more than 3 years

[mahatmakanejeeves]

Source: Associated Press, via Yahoo! Finance

Associated Press Finance
US job openings fall to 8.5 million in March, the lowest level in more than 3 years

PAUL WISEMAN
Wed, May 1, 2024, 10:17 AM EDT * 2 min read

WASHINGTON (AP) — U.S. jobs openings slid in March to the lowest level in more than three years, but stayed at historically high levels in a sign that the job market remains resilient in the face of higher interest rates. ... The Labor Department reported Wednesday that employers posted 8.5 million vacancies in March, down from 8.8 million in February and the fewest since February 2021.

The number of Americans quitting their jobs fell to the lowest level since January 2021 — a sign of diminishing confidence in their ability to find something better. But layoffs fell.

Monthly job openings are down sharply from a peak of 12.2 million in March 2022 but remain at a high level. Before 2021, they'd never exceeded 8 million — a threshold they have now reached for 37 straight months.

The high level of job openings reflects a surprisingly strong U.S. labor market. When the Federal Reserve began raising interest rates in March 2022 to combat a resurgence in inflation, the higher borrowing costs were expected to tip the economy into recession and push up unemployment.

{snip}

Read more: https://finance.yahoo.com/news/us-job-openings-fall-8-141732496.html

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From the source, the U.S. Bureau of Labor Statistics:

https://www.bls.gov/news.release/jolts.nr0.htm

[Traurigkeit]

1. People FILLING the open positions does cause the OPEN positions number to go down.

Should be a POSITIVE, People Getting Hired !!

But the MSM HAS TO make it a "negative", never be positive with Democrats in charge of Federal Government.
GOP owners boilerplate on media job employment contracts in US.

[mahatmakanejeeves]

2. You can read into this whatever you want, but that's not what it says.

U.S. jobs openings slid in March to the lowest level in more than three years, but stayed at historically high levels in a sign that the job market remains resilient in the face of higher interest rates. ...

The high level of job openings reflects a surprisingly strong U.S. labor market. When the Federal Reserve began raising interest rates in March 2022 to combat a resurgence in inflation, the higher borrowing costs were expected to tip the economy into recession and push up unemployment.

Where's the badmouthing?

I have the source document over in the Economy forum.

And good afternoon.