Job Openings, Quits Set New Records

Available jobs across the U.S. rose to 11.5 million in March, the highest number on record, according to the monthly JOLTS report released today by the U.S. Bureau of Labor Statistics. Job openings outnumbered unemployed workers by about 5.5 million.

Along with the spike in openings came an increase in quits, or workers voluntarily leaving their jobs. Quits edged up to 4.5 million, also the highest level on record. As a share of the labor force, the quits rate rose to 3 percent.

Employers have responded to the elevated quits levels with higher wages as they compete to attract talent, and that higher pay is luring many workers away from their current jobs, experts said. In 2021, almost 48 million workers quit their jobs, the highest number on record, leaving their positions partly in response to increased opportunities in the labor market.

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