Job Openings Surge

Job openings trounced expectations, coming in at 4,455,000 for April. Consensus was for 4,050,000.

Prior was revised upward to 4,166,000.

The hiring rate was unchanged at 3.4%, as was the separations rate at 3.3%.

Here’s the chart:

This is one of Janet Yellen’s favourite indicators, and should serve as more evidence that the labour market is improving.

And here’s the table. Construction job openings were down both month-on-month and year-on-year, though this was likely attributable to the bad winter. Leisure and hospitality job openings were up, as well government job openings.

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