Job openings fell to 8.5m in March |
U.S. jobs openings slid in March to their lowest level in more than three years, but stayed at historically high levels, according to the Labor Department. Its monthly Job Openings and Labor Turnover Survey
(JOLTS) showed that employers posted 8.5m vacancies, down from 8.8m in February. The number of workers voluntarily quitting their jobs fell to 3.3m, the lowest level in more than three years. Postings fell more than 1.1m from a year earlier, and were at 1.3 openings to available workers. The openings rate as a share of the total labor force fell to 5.1%. Separately on Wednesday, private payroll firm ADP reported that employers added 192,000 jobs in April, some way ahead of the 180,000 predicted by economists. Job gains were strongest in leisure and hospitality, which posted an increase of 56,000. Other industries showing gains included construction (35,000) and sectors covering trade, transportation and utilities as well as education and health services, both of which saw increases of 26,000. Professional and business services contributed 22,000 to the total while financial activities added 16,000.