Job Openings Fall In April, Layoffs Pick Up

After February's big dip, and March's rebound, April Job Openings data was expected to extend the bounce modestly in April but it did not.

April Job Openings fell to 7.449 million (7.496 million expected) from a revised lower 7.474 million in March, but Job Openings remain above the number of unemployed workers in America for the 14th month in a row...

There are 0.78 unemployed job seekers for each available job.

Quits reached a new record high but layoffs also ticked higher...

Layoffs and discharges at 1.2% in 2019 vs 1.1% in March

  • 1,752,000 people were fired or laid off in April vs 1,788,000 in April last year

  • An additional 344,000 people left their employer due to retirements, transfers to other locations, death, and separations due to disability

On the heels of Friday's dismal payrolls print, this weaker JOLTS print suggests perhaps the jobs outlook is not as rosy as many perceive.