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The Job openings hit a record-high 11.55 million in March, according to the Labor Department’s
JOLTS report. The Quits totaled 4.54 million, also a record and indicative that the labor market
remains historically tight. The gap between open jobs and available workers hit 5.6 million,
another new high. an increase of 152,000 from the previous month as the so-called Great
Resignation continued During the pandemic many people resigned or lost their jobs, now many
jobs are opening up, in the shortage of labors there is a possibility that the salary for the jobs will
increase.
Foreign new from CNBC.
May 3 2022 10:16 am
Job openings and the level of people quitting their jobs reached records in March.
Report about the economy
Report:
Employment openings exceeded the level of available workers by 5.6 million in March while a
record number of people quit their jobs, the Labor Department reported Tuesday.

The level of job postings hit 11.55 million for the month, also a fresh record for data that goes
back to December 2000, according to the Job Openings and Labor Turnover Survey. That was
up 205,000 from February and representative of a jobs market still historically tight.

At the same time, quits totaled 4.54 million, an increase of 152,000 from the previous month as
the so-called Great Resignation continued. The Covid pandemic era has seen opportunities for
workers who feel confident enough to leave their current situations for better employment
elsewhere.

The report adds to an inflationary picture that is expected to push the Federal Reserve into a
series of aggressive rate hikes, starting with a half-percentage point move Wednesday.

A shortage of labor supply during the pandemic has caused a surge in wages, with average
hourly earnings up 5.6% from a year ago in March. Still, that hasn’t kept up with inflation, which
has run at an 8.5% pace over the same time period.
Supply failed to keep up with demand in March, with the level of new hires actually declining
slightly to 6.74 million despite the increase in openings. Total separations rose to 6.32 million, a
rise of nearly 4% from February.

Job openings in the pivotal leisure and hospitality industry declined by 45,000, a drop of 2.6%
on a monthly basis, while hiring increased by 40,000. The sector is considered a key proxy for
the economic recovery and has an unemployment rate of 5.9%, still a bit higher than its pre-
pandemic level.