Employers are still desperate for workers. Layoffs are rare, despite anecdotes to the contrary. Quitting remained elevated, but the “Great Resignation” isn’t getting worse (for now). Let’s take a tour through the latest April release of the Job Openings and Labor Turnover Survey (JOLTS) report.
Job openings declined in April to 11.4 million from an all-time high of 11.9 million in March. This level is about 60% above the pre-pandemic number of job openings. And while the gap between unemployed persons (5.9 million) and openings closed a bit, it’s still very wide at 5.5 million. There is a fundamental