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US job openings dropped nearly by half a million in April, shrinking the historically wide gap between vacant positions and available workers.
Source: US Bureau of Labor Statistics
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The openings declined by 455,000 from the upwardly revised March figure to 11.4 million in April, close to the FactSet estimate.
The figure left a gap of 5.46 million between openings and the available workers, still historically high and signals a very tight labor market. The job openings rate dropped 0.3 percentage points to 7%.
The JOLTS report indicated that 4.4 million workers left their jobs in April, largely unchanged from the March reading and signals the ongoing “Great Resignation.”
Hiring fell slightly on the month, even a major fall in the leisure and hospitality sector. The industry reported a fall in hiring by 77,000 or a half percentage point to 7.2%.
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