The labour market is rolling.
Job opening surged to 5.376 million in April, way more than expected.
Expectations were for the JOLTS report to show job openings rose 5.044 million in April, up from 4.994 million in March.
This marks the most listed job openings in any month since the series began in December 2000.
The number of separations fell in April to 4.881 million, down from March’s 5.065 million level.
The quits rate, which is seen as an indicator of employee confidence, also fell slightly in April to 1.9% from 2% in March.
And so overall, the amount of “churn” or turnover we’re seeing in the labour market declined some in April.
This latest update on the labour market comes after the BLS said on Friday that the economy added 280,000 jobs in May while wages rose more than expected.
Here’s the latest chart of job openings, now at a record high.