May 01, 2024
US job openings fell 3.7% month over month in March to 8.5 million after increasing in February, according to seasonally adjusted data released Thursday by the US Bureau of Labor Statistics. On a year-over-year basis, the decrease was 11.8%.
Over the month, the number of hires fell 4.9% to 5.5 million.
Overall, US jobs openings slid in March to the lowest level since February 2021 but stayed at historically high levels in a sign that the job market remains resilient in the face of higher interest rates, ABC News reported. In addition, 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 better jobs. However, the number of layoffs fell in March 2024.
Industries with the largest decreases in job openings in March included construction, down by 182,000 jobs, and finance and insurance, down by 158,000. On the flip side, job openings increased by 68,000 in state and local government education.
Looking at layoffs, the number decreased by 39,000 in arts, entertainment and recreation but increased by 18,000 in private educational services.
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