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
Severance Pay
HR Careers
Family & Medical Leave
Unemployment Benefits
Workplace Harassment
Hiring
Succession Planning
Job Descriptions
Leave Management
Communication
Disability Benefits
Employee Resource Groups
Age
Retirement & Recognitions
Communicable Diseases
Retirement Benefits
Networking
Drug & Alcohol Testing
Vendors & Software
Workplace Stories
Health Savings Accounts
Employee Surveys
Opening & Closing
Sexualy Harassment
Policies & Practices
Mental Wellness
Investigations
Benefits Reporting & Disclosure
Employee Handbooks
Mentoring & Coaching
Workplace Security
Change Management
Pay Equity
Mental Health Benefits
Gender Identity
Wellness Benefits
Employment Law & Compliance
Opening
Employee Data Privacy
Background Checks
Disability Accomodations
Workforce Planning
Relationship Management
Dependent Benefits
Labor Relations
Educational Assistance
Electronic Records Management
Artificial Intelligence
Business Continuity
Leadership &
Tags
Article
Millennials Care About These 8 Things at Their Workplace - Are Your Offering Those?
Millennials are considered to be social people, who live by the ‘work hard play hard’ mantra and ar ...
The Future of Gig Employment
There’s no denying that the gig economy has seen much growth since the last recession. With the spr ...
You Think You Have Earned It? Here is How to Ask for a Promotion
Nearly 62% of employees in the managerial levels are satisfied with their jobs. Although they have ...
Know the Work Habits of Highly Effective Employees
The employees are the most valuable assets of any organization. It’s their credibility, efficiency, ...
Comments