U.S. job openings raise more than expected in March

The Job Openings and Labor Turnover Survey (JOLTS) published by the Labor Department on Tuesday showed an increase in the U.S. job openings in February. 

According to the report, employers posted 7.488 million job openings in March, compared to the February figure of 7.142 million (revised from 7.087 million in the original estimate) and economists’ expectations of 7.240 million. The job openings rate was 4.7 percent in March, up from 4.5 percent in the prior month. The report showed that the number of job openings increased for total private (+363,000) and was little changed for government. Job openings increased in a number of industries, with the largest increases in transportation, warehousing, and utilities (+87,000), construction (+73,000), and real estate and rental and leasing (+57,000). Job openings declined in federal government (-15,000).

Meanwhile, the number of hires edged down to 5.660 million in March from 5.695 in February. The hiring rate was 3.8 percent, the same as in February. The hires level was little changed for total private and for government. The number of hires was also little changed in all industries and in all four regions.

The separation rate in March was at 5.434 million or 3.6 percent, compared to 5.576 million or 3.7 percent in February. Within separations, the quits rate was 2.3 percent (flat m-o-m), and the layoffs rate was 1.1 percent (-0.1 pp m-o-m).