There were 11.3 million available jobs last month, matching January's figure and just below December's record of 11.4 million, the Labor Department said Tuesday.
There were 11.3 million available jobs last month, matching January’s figure and just below December’s record of 11.4 million, theThe number of Americans quitting their jobs was also historically high, at 4.4 million, up from 4.3 million in January. More than 4.5 million people quit in November, the most on records dating back two decades. Many people are taking advantage of numerous opportunities to switch jobs, often for higher pay.
The outsize number of available jobs and quits has contributed to rampaging inflation, as many companies have had to raise pay to attract and keep workers. In February, there were 1.8 openings for every unemployed worker. Before the pandemic, there were usually more unemployed people than job openings.The unemployment rate, at 3.8%, is near the pre-pandemic level of 3.5%, which was the lowest in five decades.
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