“The tally of available jobs now outnumbers the unemployed by roughly 1 million. Openings began to outpace the unemployed last spring, for the first time in the 18 years the data has been tracked.”

US job openings rise, outnumber the unemployed by 1 million

By Christopher Rugaber

The Associated Press

March 15, 2019

U.S. employers posted nearly 7.6 million open jobs in January, near a record high set in November[.]

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The Labor Department said Friday that hiring also rose and the number of people quitting their jobs picked up. Quits are a sign of a healthy economy, because people typically leave a job for another, usually higher-paying, one.

The tally of available jobs now outnumbers the unemployed by roughly 1 million. Openings began to outpace the unemployed last spring, for the first time in the 18 years the data has been tracked.

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The strong job market is already pushing up wages more quickly, with hourly wages rising in February at the fastest pace in nine years.

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Nearly 3.5 million people quit their jobs in January, up 2.9 percent from the previous month. That could force employers to pay more to prevent their workers from quitting.

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The JOLTS report suggests the job market remains strong and bolsters most analysts’ expectations that steady hiring and rising wages will support faster growth later this year.

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