JOLTS March job openings 7.192M vs 7.480M estimate | Forexlive

JOLTS Job Openings: Lower

• Prior month 7.568 M revised to 7.480M
• Job openings 7.192M vs 7.480M

Hires: Slightly Higher. Good for employment

• Total hires: 5.411 million (versus 5.370M last month)

• Hires rate: 3.4% (unchanged from last month)

• No significant changes across industries

Total Separations: Lower. Good for employment

• Total separations: 5.137 million (versus 5.316M last month)

• Separations rate: 3.2% (vs 3.3% last month)

• Increased in state and local government (ex. education): +28,000

• Decreased in federal government: -8,000

Quits: Higher. A higher quits rate is considered positive

• Total quits: 3.332 million (vs 3.250 million last month)

• Quits rate: 2.1% (versus 2.0% last month)

• Decreased in transportation, warehousing, and utilities: -49,000

Layoffs and Discharges: Lower. Good for jobs

Other Separations

SUMMARY: Apart from the actual job openings which fell toward 2020 levels, the other pieces of the report were employment positive.

• Hires were higher.
• Separations were lower
• Quits rate was higher indicative of employees confident on finding a new job
• Layoffs and discharges are lower. Good for jobs

The JOLT job report had gotten out of whack with the jobs market doring 2021, 2022, but has been moving back toward pre pandemic levels.