WASHINGTON (6/10/15)--Job availability expanded in April, with the number of open jobs climbing to 5.4 million, the highest number recorded in the Bureau of Labor Statistics’ monthly job openings and labor turnover survey since its inception in 2000 (Economy.com June 9).
Hiring stalled during the month, however, slipping to 5.01 million hires from 5.09 million in March.
“Job openings now exceed hiring,” said Sophia Koropeckyj, Moody’s analyst (Economy.com). “This suggests that employers are not able to fill positions, possibly because applicants do not have the qualifications they require.”
Private-sector job openings rose to 4.89 million from 4.63 million in April, with retail trade, professional/business services and health care accounting for the majority of the gains.
Hiring, meanwhile, picked up in goods-producing industries. Across all industries, hiring dropped in every region except for the Midwest, where it was unchanged.
The quit rate, which can signal employee confidence in the job market, fell to 1.9% from 2% despite an increase in the availability of jobs. Quits fell in every region except the South, where they stood unchanged.
“The surging job openings rate and the apparent difficulty that employers are having finding workers suggest that employers will need to start increasing the wages they are offering to attract qualified workers,” Koropeckyj said.