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In March, the number of vacancies and the number of people who quit their jobs reached records

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On January 28, 2022, a “now hire” sign will be displayed in the window of an ice cream shop in Los Angeles, California.

Frederick J. Brown | AFP | Getty Images

Vacancies in March exceeded the level of available workers by 5.6 million, and a record number of people resigned, the Ministry of Labor said on Tuesday.

The level of vacancy announcements reached 11.55 million per month, which is also a new record for data dating back to December 2000, according to a survey of vacancies and job turnover. That’s 205,000 more than in February, and labor market representatives are still tense.

At the same time, the number of laid off amounted to 4.54 million, which is 152,000 more than in the previous month, as the so-called Great Resignation continued. The A pandemic of covanvirus covid infection The era saw opportunities for workers who felt confident enough to leave their current position for a better job elsewhere.

The report adds a picture of inflation that is expected to push the Federal Reserve to a series of aggressive rate hikes, starting with a move to half a percentage point on Wednesday.

Labor shortages during the pandemic caused wage growth: the average hourly wage in March rose by 5.6% from a year ago. However, it did not keep up with inflation, which was 8.5% over the same period.

Supply did not keep up with demand in March, with the level of new employees actually falling slightly to 6.74 million, despite an increase in the number of vacancies. The total number of divisions rose to 6.32 million, almost 4% more than in February.

Vacancies in the main leisure and hospitality industry fell by 45,000, up 2.6% on a monthly basis, while the number of hires increased by 40,000. The sector is considered a key indicator of economic recovery and has an unemployment rate of 5.9%, which is still slightly higher than its pre-pandemic level.

Tuesday’s release appears the same week as the key April payroll report. Economists polled by Dow Jones expect an increase of 400,000 jobs and a reduction in unemployment to 3.5%, which would be in line with the pre-pandemic figure, which was the lowest since December 1969.

Correction: Vacancies in the main leisure and hospitality industry have fallen by 45,000. In the previous version, the category was incorrect.

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