Job openings fell by 384,000 in March to 9.6 million, but still outnumber available workers as the labor market remains tight, according to the monthly JOLTS report released by the U.S. Bureau of Labor Statistics. The report shows the long-anticipated slowdown in the demand for workers as employers become more cautious about a potential recession. Openings have come down from the record 12 million in March 2022 but remain above the pre-pandemic level of about 7 million.
The number of people quitting remains elevated as 3.9 million workers left their jobs in March. Layoffs in March rose by 248,000 to 1.8 million, amid continued reports of job cutting in a variety of sectors.
On Friday, the Department of Labor will report on how many jobs the U.S. economy added in April, the unemployment rate and wage gains for the month.