Staffing Industry Analysts (06/04/24)
Job openings fell by 296,000 in April, hitting their lowest level since February 2021 and marking a three-year low, according to the US Bureau of Labor Statistics. Despite the decline in job openings and a year-over-year decrease of 1.8 million, hires slightly increased by 23,000 to 5.64 million. Quits also rose by 98,000 to 3.5 million, while layoffs and discharges fell by 86,000. Economist Rubeela Farooqi noted that job openings remain high, indicating strong demand for workers, but are trending towards pre-pandemic levels, suggesting a balancing of labor supply and demand.
This article originally appeared on staffingindustry.com. Use this link to see the full article: JOB OPENINGS AT NEW 3-YEAR LOW