U.S. job openings reach record high of 6.6 million

U.S. job openings reach record high of 6.6 million
UPI

May 8 (UPI) — The United States had a record 6.6 million job openings at the end of March, the U.S. Bureau
of Labor Statistics reported Tuesday.

Job openings increased by 472,000 from February to March and rose by about a million from 5.6 million last year.

Professional and business services saw the largest increase in job openings with 112,000, followed by construction with 68,000, and transportation, warehousing and utilities with 38,000.

While job openings increased, the number of new hires fell by 86,000 in March to 5.4 million. The finance and insurance industries experienced the greatest decrease in hires, falling 32,000.

Senior economist at S&P Global Ratings Satyam Panday told CNN the disparity between job openings and new hires indicates business owners aren’t finding qualified candidates.

“The qualification mismatch is an issue here for both employees and employers,” Panday said.

The bureau also reported that the number of people who quit their jobs, an indicator of worker confidence, increased by 136,000 to 3.34 million.

.