The number of Americans quitting their jobs hit a record high in March, as job openings also shattered prior records and gave workers their pick of more lucrative opportunities.
Job openings, a measure of labor demand, rose by 205,000 to 11.5 million on the last day of March, the Labor Department said in its monthly Job Openings and Labor Turnover Survey, or JOLTS report, on Tuesday.
It means that there are now nearly twice as many job openings in the country as there are unemployed people.
With opportunities abundant, the number of people quitting their jobs rose to 4.5 million in March, the most resignations in a month since records began in 2000.
The latest data suggest that with demand for workers still white-hot, employers could continue to raise wages and help keep inflation uncomfortably high.
With opportunities abundant, the number of people quitting their jobs rose to 4.5 million in March, the most resignations in a month since records began in 2000
Job openings, a measure of labor demand, rose by 205,000 to 11.5 million on the last day of March, the highest level on record
Job openings rose for the second straight month, hitting their highest level on record and surpassing economist estimates. Economists polled by Reuters had forecast 11 million vacancies.
In March, the number of new hires was little changed at 6.7 million. The hires rate was unchanged at 4.5 percent. Hires were little changed in all industries and in all four regions.
The number of total separations, including quits, layoffs and firings, edged up to 6.3 million, driven primarily by increases in voluntary resignations.
Quits increased significantly in professional and business services (+88,000) and construction (+69,000). The number of quits
