U.S. job openings decline slightly but remain high
The demand for U.S. workers cooled just a bit in April, but companies are still desperate to hire more people. The Labor Department reported Wednesday that employers advertised 11.4 million jobs at the end of April. That was down from about 11.9 million in March, the highest level in records that date back more than 20 years. There are currently around two job openings for every unemployed person.
Does this mean more people are working? The number of people quitting their jobs remained near record highs at 4.4 million in April, mostly unchanged from March. The figures suggest that hiring remains strong. On Friday, the government will release the monthly jobs report. Economists believe employers added 323,000 jobs in May and the unemployment rate ticked down to 3.5 percent, matching its pre-pandemic low.
Dig deeper: Listen to World Journalism Institute students interview financial analyst David Bahnsen on The World and Everything in It podcast.
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