The JOLTS report offers upbeat news on the economy with job openings jumping to 5.757 million in March from February’s upwardly revised 5.608 million, boosting the job openings rate 1 tenth to 3.9 percent. And employers may be having trouble filling the openings as the hiring rate fell 1 tenth to 3.7 percent. The quits rate is unchanged at 2.1 percent to indicate that workers are showing limited inclination to shift jobs. Similarly, employers are showing limited inclination to cut jobs as the layoffs rate fell 1 tenth to 1.2 percent. The labor market, despite economic slowing, remains the nation’s chief strength.
The number of job openings (yellow) are up 11% year-over-year compared to March 2015.
Quits are up 9% year-over-year. These are voluntary separations. (see light blue columns at bottom of graph for trend for "quits").
This is another strong report, and job openings are just below the record high set in July 2015.