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In April 2024, job openings in the United States remained steady at 8.1 million, according to the latest report by the U.S. Bureau of Labor Statistics (BLS). This figure indicates a marginal decrease of 1.8 million over the year, with the rate holding firm at 4.8 percent. Meanwhile, the number of hires and total separations saw no significant shifts, maintaining levels at 5.6 million and 5.4 million, respectively. Here's a breakdown of the key findings:
The last business day of April witnessed little alteration in the number of job openings, remaining at 8.1 million, a decrease of 1.8 million compared to the previous year. The rate remained largely unchanged at 4.8 percent. Notably, while job openings declined in sectors such as healthcare and social assistance (-204,000) and state and local government education (-59,000), there was an uptick in private educational services (+50,000).
April saw the number of hires holding steady at 5.6 million, with a rate of 3.6 percent. While there was an increase in hires within durable goods manufacturing (+52,000), sectors like arts, entertainment, and recreation (-45,000) and federal government (-8,000) experienced declines.
Total separations encompassing quits, layoffs, discharges, and other separations remained relatively unchanged in April at 5.4 million, with a steady rate of 3.4 percent. Notable variations included an increase in separations within durable goods manufacturing (+49,000).
The number of quits in April saw minimal change, remaining at 3.5 million, maintaining a consistent rate of 2.2 percent for the sixth consecutive month. While quits decreased in professional and business services (-131,000), they increased in other services (+67,000), durable goods manufacturing (+39,000), and state and local government.
Similarly, layoffs and discharges remained largely unchanged at 1.5 million, with a rate of 1.0 percent. Notable decreases were observed in arts, entertainment, and recreation (-37,000).
For establishments with varying employee counts, April showcased little change in job openings, hires, and total separations rates, except for those with 5,000 or more employees, where the hires rate increased while job openings and total separations rates remained stable.
March's data underwent revisions, indicating a downward adjustment in job openings by 133,000 to 8.4 million, an upward revision in hires by 117,000 to 5.6 million, and an increase in total separations by 130,000 to 5.3 million. Specifically, quits were revised upward by 80,000 to 3.4 million, and layoffs and discharges increased by 75,000 to 1.6 million.
As the U.S. economy navigates through various challenges, the stability in job openings, hires, and separations provides insights into the labor market's resilience and adaptability amidst evolving dynamics.
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