The number of open jobs in the U.S. economy jumped to 7.6 million in April while layoffs declined, evidence of how demand for workers has intensified.
At the end of April, there were just over 7.6 million open positions, up from about 6.9 million at the end of March, according to the Labor Department’s monthly report on job openings and labor turnover. This is the largest number of job vacancies in two years.
The manufacturing sector saw openings rise to 474,000, up 24,000 from the previous month and 98,000 higher than a year ago. The monthly increase was entirely in durable goods businesses, as nondurable goods openings remained flat.
Openings in the economically sensitive professional and business services sector rose from 1.047 million to 1.715 million. Openings were down in retail trade and the hospitality and leisure sectors.
The federal government saw job vacancies climb from 78,000 to 95,000. State and local government vacancies rose from 652,000 to 682,000. Openings in healthcare and social assistance climbed from 1.378 million to 1.467.
The quits rate ticked down from 2.2 percent to 2.1 percent, indicating fewer workers voluntarily left their positions in May. A rising quits rate is associated with worker confidence. The rate was flat or declined slightly for most sectors in April.
Private sector layoffs fell from 1.8 million in March to 1.6 million in April. The layoff rate fell to 1.1 percent, indicating a low pace of job losses. Layoffs fell to zero in information technology, defying impressions that artificial intelligence is costing jobs in the sector. Layoffs declined in business and professional services.
The Labor Department’s monthly jobs report for May is due Friday. Economists expected payrolls across the economy added 85,0000 workers.
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