US: Job openings above unemployed workers in April - Wells Fargo

Analysts at Wells Fargo, point out that in today’s JOLTS report, the number of job openings rose above the number of unemployed workers in April for the first time, signaling an ever-tightening labor market.

Key Quotes:

“The number of job openings rose slightly to 6.70 million in April, a record high since the series began in December 2000. Durable goods manufacturing and information added openings, while fewer jobs were available in finance & insurance.”

“The number of unemployed workers per job opening dropped below 1.0 for the first time to 0.9. There is little reprieve in sight for employers who are facing difficulty in filling open positions.”

“Employers hired 5.58 million workers in April. Hires have outpaced separations in every month since August 2010.”