4.5 million quit jobs: BLS
A record 11.5 million job openings were posted by employers in March while nearly 4.5 million Americans quit or changed jobs, matching previous highs. This reflects the continued strength of the labor market where workers have the upper hand. Meanwhile, the Bureau of Labor Statistics reported on Tuesday that there were 6.7 million new hires with the numbers remaining steady.
Economist Julia Pollack says, "Demand for workers remains white-hot. This is very broad, enormous growth. Even though we’ve almost recovered all of the jobs lost in the pandemic, the labor market just keeps getting tighter and tighter."
This data on job openings and the number of workers quitting could also play into discussions about curbing inflation. Federal Chair Jerome H Powell says the “extremely, historically” tight job market is the reason why the economy can withstand higher interest rates without tumbling into recession. Overall, the number of job openings grew in March from a year earlier. The demand for workers rose most in retail, manufacturing and finance and insurance.
Source: The Washington Post
Category
Policies & Practices
Remote & Hybrid Work
Leadership Development
Risk Management
Disaster Preparation & Response
Organizational &
Salary Surveys
Employment Testing
Communication
Onboarding
Talent Acquisition
Raise
Analytical Aptitude
Affirmative Action
Vendors & Software
Dependent Benefits
Retirement & Recognitions
Global Mindset
Promotion
Performance Management
Consultation
Workplance Violence
Do's & Don'ts
Firing
Parental Leave
Pay Equity
Retirement Benefits
Contracts & RFPs
Educational Assistance
Retaliation
Wellness Benefits
Religion & Spirituality
Employment Offers
Whistleblowing
Recruiting
Organization & Employee Development
People Management
Trends
Privacy
Retention
Discrimination
Mental Wellness
Termination
Sexualy Harassment
Employee Handbooks
Ethnicity
Flexible Spending Account
Mental Health Benefits
Employee Data Privacy
Environmental Health Hazards
Tags
Article
How to Cope with America’s Return-To-Office Plans
If you’re looking forward to shifting from remote to in-office work, here are a few ways to cope wi ...
COVID-19 - 6 Challenges Staffing Firms Are Likely to Face
Most industries have severely suffered in the ongoing pandemic with a few exceptions, like healthca ...
The Unionization Wave
From the peak of the pandemic in 2020 through the Great Resignation wave, unionization has been a ...
The Future of Gig Employment
There’s no denying that the gig economy has seen much growth since the last recession. With the spr ...
Comments