Job openings fell in April to their lowest level since February 2021 as the labor market shows further signs of cooling off from the hiring boom that followed the US economy reopening after the pandemic.
New data from the Bureau of Labor Statistics released Tuesday showed there were 8.06 million jobs open at the end of April, a decrease from the 8.35 million job openings in March.
March’s figure was revised lower from the 8.48 million open jobs initially reported. Economists surveyed by Bloomberg had expected the report to show 8.35 million openings in April.
The Job Openings and Labor Turnover Survey (JOLTS) also showed 5.6 million hires were made during the month, little changed from March.
The hiring rate held at 3.6%, unchanged from March. Also in Tuesday’s report, the quits rate, a sign of confidence among workers, held steady at 2.2%.
Josh Schafer | Yahoo Finance