Job openings declined in April while layoffs hit a series low
Below, EPI senior economist Elise Gould offers her initial insights on today’s release of the Job Openings and Labor Turnover Survey (JOLTS) for April. Read the full Twitter thread here.
Hires and quits rates both held steady in April as layoffs edged down. Hires remain elevated by historical standards as workers get (re)absorbed into the labor market. High quits is a sign of a strengthening labor market where workers can quit, search, and obtain new jobs. pic.twitter.com/gjrHN2sPPQ
— Elise Gould (@eliselgould) June 1, 2022
While overall hires and quits rates held steady, some sectors experienced a drop in April. While accommodations and food services remains the sector with the highest churn, as job openings fell, hires and quits also fell in that sector. A key sector to watch on jobs day Friday! pic.twitter.com/NlJd1EzbEa
— Elise Gould (@eliselgould) June 1, 2022
Today’s job openings report confirms what we already knew about the recovery. The labor market continues to experience a historically fast bounce back from the pandemic recession because policymakers sought solutions at the scale of the problem.https://t.co/rofL5ahSvw
— Elise Gould (@eliselgould) June 1, 2022
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