Labor market and the overall state of the economy
Job Openings Seen Holding Near Record Highs This Spring, Private Data Show
Employers posted 11.4 million available positions in May, jobs site Indeed estimates
The monthly jobs report reveals key indicators about the labor market and the overall state of the economy, but it doesn’t show the entire picture.
Demand for workers remained robust in the spring, according to private-sector estimates, a sign employers face still-stiff competition in a tight labor market.
Economists surveyed by The Wall Street Journal estimated the report will show there were 11.4 million openings in April.
The number of times workers quit their jobs also reached a record high of 4.5 million in March.
Economists expect job openings to level off in the coming months but remain elevated because of strong consumer demand for goods and services.
“We’re still in a very tight labor market, but it’s not as tight as it was at the end of last year or last summer,” said Nick Bunker, an economist at Indeed.
The high level of openings comes as fewer Americans are seeking employment compared with before the pandemic
The labor-force participation rate, which is the share of those employed or seeking work, has steadily recovered