The job openings rate fell in March to 2 percent, the lowest since tracking began eight years ago, the Bureau of Labor Statistics reported today.
The openings rate was slightly higher in the private sector than in government (2.1 percent to 1.5 percent), with most openings in education and health services (2.8 percent) and professional and business services (2.5 percent). Construction was the only industry to have an openings rate smaller than 1 percent (.7 percent).
The quits rate, which serves as a good indicator of workers’ willingness or ability to change jobs, is at an 8-year low.
Meanwhile, over 4 million people were hired in March, but closer to 5 million quit, retired, or were laid off, resulting in the net loss of jobs reported last month.