US Job Openings Soar to 2-Year High as Economic Improvement Continues

The US labour market continues to show signs of improvement, as job openings hit a two-year high in February.

The latest Bureau of Labour Statistics’ Job Openings and Labour Turnover Survey, or JOLTs, shows that the number of job openings rose from a revised 7.1 million to 7.37 million in February. The median estimate by economists surveyed by Bloomberg called for a total of 6.9 million openings; the better-than-expected results suggest that US employers have ramped up hiring in some of the industries that were hit hardest by the pandemic.

With economic activity picking up and vaccination levels increasing, employers across the US have increasingly been searching for workers to fill vacant positions. Although elevated job openings suggest a strong hiring spree will likely ensue in the coming months, a number of businesses have revealed they are unable to find workers due to ongoing obstacles such as health concerns and adequate childcare.

Job postings for the healthcare industry rose to 1.45 million, while openings in the accommodation and food services industry increased by 761,000. Similarly, the retail sector saw a jump of 916,000 vacancies in February— the highest since October 2019. In the meantime, the number of Americans who voluntarily left their position remained little changed, as the quits rate stood at 2.3%. Separations, which account for layoffs and quits, rose from 5.3 million to 5.5 million, but still remain lower relative to December levels.


Information for this briefing was found via the BLS and FRED. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

First Majestic Q2 Earnings: Another Record Quarter

Sandstorm Gold Fades Into Royal Gold Merger

Equinox Gold Q2 Earnings: Back On Track

Recommended

Emerita Resources Expands El Cura Drill Program By 10,000 Metres As Deposit Remains Open For Expansion

ESGold Signs MOU For Tailings Project In Colombia With Grades Up To 42 g/t Gold, 280 g/t Silver

Related News

Gold Sent Soaring Following Awful Non-Farm Payroll Data

It appears things might be finally hitting the fan this morning so to speak. Gold...

Friday, September 3, 2021, 08:53:37 AM

India Wins As Companies Move Their Supply Chains Out Of China

For India, the nation poised to become the world’s third-largest economy by 2027, things just...

Wednesday, December 14, 2022, 12:00:00 PM

White House Announces Release Of 50 Million Barrels of Oil From Reserve In Parallel With China, Japan, India, Others

The White House announced today that the country’s Department of Energy is making available releases...

Tuesday, November 23, 2021, 08:30:33 AM

US Job Openings Soar to Record 10 Million as Businesses Struggle to Fill Vacant Positions

In yet another testament that the US economy is indeed recovering a lot hotter than...

Sunday, August 15, 2021, 01:19:00 PM

Colombia’s Gustavo Pietro Is Done With The War On Drugs

On Tuesday last week, Colombia’s recently-elected leftist president Gustavo Petro addressed the United Nations General...

Thursday, September 29, 2022, 03:39:00 PM