U.S. Job Openings at Eight-Month High Shows Tighter Market

An eight-month high in job openings and a pickup in quits indicate the U.S. labor market continues to tighten, a Labor Department report showed May 9.

Highlights of JOLTS Report (March):

• Positions waiting to be filled rose by 61,000 to 5.74 mln (forecast was 5.73 mln), from 5.68 mln in February (revised from 5.74 mln)
• Hiring edged up to 5.26 mln from 5.25 mln; the hiring rate held at 3.6%
• 3.12 mln Americans quit their jobs, up from 3.04 mln in the previous month; the quits rate held at 2.1%

Key Takeaways

The report gives a glimpse into a weaker-than-expected ...