US job openings in February reached highest rate on record

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Sumary of US job openings in February reached highest rate on record:

  • WASHINGTON (AP) — The pace of job openings reached the highest level on record in February, a harbinger of healthy hiring and a hopeful sign for those looking for work..
  • The job openings rate — which is the number of available jobs as a percentage of the employed and the open jobs, combined — rose to 4.9%, the highest since the data was first tracked in December 2000, the Labor Department said Tuesday..
  • The increase reflects a solid rise in open jobs to 7.4 million, up from 7.1 million in January and significantly above the pre-pandemic level of about 7 million..
  • The data come from the Job Openings and Labor Turnover survey, or JOLTS, which reports the number of job listings, total hiring, and layoffs and quits..
  • The hiring figures represent a gross figure, while the monthly jobs report provides a net number of jobs gained or lost..
  • Last Friday, the government said a net 916,000 jobs were added, the most since August, and the unemployment rate fell to 6%, from 6.2%..
  • Including those who have lost jobs and stopped looking for work, as well as misclassification of some unemployed, the unemployment rate would be roughly 9%…

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