More Americans Quit Jobs, a Sign of Confidence - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

More Americans Quit Jobs, a Sign of Confidence

Posted:
(Photo: MGN) (Photo: MGN)

WASHINGTON (AP)- More Americans are quitting their jobs, suggesting many are growing more confident in the job market.
 
The Labor Department said Tuesday that the number of people who quit their jobs in April jumped 7.2 percent to 2.25 million. That's just below February's level, which was the highest in 4 ½ years.
 
Overall hiring also picked up in April, though not as dramatically. Employers filled 4.4 million jobs in April, a 5 percent increase from March. Hiring fell in March and April's level was below February's.
 
The report offered a reminder that the job market is far from healthy. The number of available jobs slipped fell 3 percent to a seasonally adjusted 3.75 million. Openings had reached a five-year high in February and remain nearly 7 percent higher than a year ago.
 
Still, the growth in hiring and quits provides more evidence of a dynamic job market that is making slow but steady strides. It follows Friday's May employment report, which showed the economy added a net 175,000 net jobs last month. That's roughly in line with the average monthly gain over the past two years.
 
Most workers quit their jobs when they have a new position or feel confident that they can find one quickly. And when they do, it opens up more opportunities for other Americans, including the unemployed.
 
Janet Yellen, vice chair of the Federal Reserve, has said the Fed is monitoring data on quits and overall hiring for signs that the job market is improving in a sustainable way.
 
The Fed says it will continue its ambitious program of bond purchases until employment improves substantially.
 
The report, known as the Job Openings and Labor Turnover survey, provides the total number of people hired and laid off each month. It's different from the department's monthly jobs report, which provides each month's net job gain or loss and the unemployment rate. By quantifying total hiring and layoffs, the JOLTS report paints a fuller picture of what employers are doing.
 
For example, for the past two years net job gains have averaged about 180,000 per month. But much that gain reflects a decline in layoffs, rather than more overall hiring.
 
Layoffs fell to the lowest level on records dating back to 2001 in January. They have since increased slightly but are still below pre-recession levels.
 
Fed officials and economists want to see overall hiring pick up because it would indicate businesses are confident enough to add more workers.
 
Despite April's increases, overall hiring and quits are still below pre-recession figures. Total hiring topped 5 million in most months before the recession began in December 2007. That's 14 percent higher than April's level.
 
Monthly quits were typically around 2.8 million before the recession. That's 24 percent higher than April.
 
The job market remains very competitive for those looking for work. There were 3.1 unemployed workers, on average, for each open job in April. In a healthy economy, the ratio is 2 to 1.
 
The drop in openings suggests that job gains may not pick up from their current modest pace in the coming months.
 
Openings have risen much faster than total hiring since June 2009, when the recession ended. The number of available jobs has increased 58 percent since then, but total hiring has increased only 22 percent.
 
That's a sign companies are slow to fill the jobs they have posted. Many employers have become more selective and cautious about hiring since the recession. Some may not be offering enough pay to attract the candidates they need. Other companies, particularly in information technology and manufacturing, say they can't find enough qualified workers.

 

  • Delmarvawide NewsDelmarvawide NewsMore>>

  • Dover Leaders Say High-Crime Areas Will be Saturated With Police

    Dover Leaders Say High-Crime Areas Will be Saturated With Police

    Friday, May 26 2017 8:40 PM EDT2017-05-27 00:40:44 GMT
    Friday, May 26 2017 8:40 PM EDT2017-05-27 00:40:44 GMT
    DOVER, Del. -- After a number of shooting incidents in recent weeks, Dover's mayor and police chief on Friday announced officers will be focusing their efforts in high-crime areas in the city. Dover Mayor Robin Christiansen said the effort comes after the city has seen more than 20 shooting incidents in 2017 and at a time when the summer is fast approaching and children and teenagers will be leaving school. "We are not going to ease up on the people that are using our city to c...More
    DOVER, Del. -- After a number of shooting incidents in recent weeks, Dover's mayor and police chief on Friday announced officers will be focusing their efforts in high-crime areas in the city. Dover Mayor Robin Christiansen said the effort comes after the city has seen more than 20 shooting incidents in 2017 and at a time when the summer is fast approaching and children and teenagers will be leaving school. "We are not going to ease up on the people that are using our city to c...More
  • Delaware Beach Traffic Picks up as Memorial Day Weekend Arrives

    Delaware Beach Traffic Picks up as Memorial Day Weekend Arrives

    Friday, May 26 2017 8:27 PM EDT2017-05-27 00:27:26 GMT
    Friday, May 26 2017 8:27 PM EDT2017-05-27 00:27:26 GMT
    Rehoboth Beach, DelawareRehoboth Beach, Delaware
    REHOBOTH BEACH, Del. -- Delaware's roads will be more crowded this weekend as travelers from across the country and state visit beach towns in Sussex County. "It's good in the fact that there's a lot of people here but then it's bad, the traffic and getting around, and bumping elbows with everybody," said Adam Moatz of Tennessee, who drove up with his wife Beth to visit a relative. DelDOT says tens of thousands of people are expected to travel through the Dover Toll Plaza ...More
    REHOBOTH BEACH, Del. -- Delaware's roads will be more crowded this weekend as travelers from across the country and state visit beach towns in Sussex County. "It's good in the fact that there's a lot of people here but then it's bad, the traffic and getting around, and bumping elbows with everybody," said Adam Moatz of Tennessee, who drove up with his wife Beth to visit a relative. DelDOT says tens of thousands of people are expected to travel through the Dover Toll Plaza ...More
  • Price Comparison: Where to Buy Crabs Over Memorial Day Weekend

    Tuesday, May 23 2017 10:30 AM EDT2017-05-23 14:30:07 GMT
    Friday, May 26 2017 8:08 PM EDT2017-05-27 00:08:17 GMT

    For many people on Delmarva, a favorite way to spend the Memorial Day holiday weekend is by enjoying blue crabs. If you're planning on buying crabs, either live or steamed, prices vary widely depending on location.  

    More

    For many people on Delmarva, a favorite way to spend the Memorial Day holiday weekend is by enjoying blue crabs. If you're planning on buying crabs - either live or steamed - prices vary widely depending on location.  

    More
  • Most Popular StoriesMost Popular StoriesMore>>

  • Teen Hospitalized After OC Hotel Fall

    Teen Hospitalized After OC Hotel Fall

    Thursday, May 25 2017 9:48 PM EDT2017-05-26 01:48:06 GMT
    Friday, May 26 2017 7:22 AM EDT2017-05-26 11:22:21 GMT

    Ocean City police say a 17-year-old boy was hospitalized after falling from an unknown height at a hotel in Ocean City on Thursday afternoon.

    More

    Ocean City police say a 17-year-old boy was hospitalized after falling from an unknown height at a hotel in Ocean City on Thursday afternoon.

    More
  • Maryland State Police Make Large-Scale Drug Bust Spanning 5 Counties, Including Del

    Maryland State Police Make Large-Scale Drug Bust Spanning 5 Counties, Including Del

    Friday, May 26 2017 8:38 AM EDT2017-05-26 12:38:42 GMT
    Friday, May 26 2017 8:46 AM EDT2017-05-26 12:46:05 GMT

    Maryland State Police and several other law enforcement agencies arrested 18 people in four Maryland counties and one Delaware county, connected to a large scale distribution of opioids, in which police say an estimated $130,000 worth of drugs were recovered along with $98,000 in cash.

    More

    Maryland State Police and several allied law enforcement agencies arrested 18 people in four Maryland counties and one Delaware county, connected to a large-scale distribution of opioids, in which police say an estimated $130,000 worth of drugs were recovered along with $98,000 in cash.

    More
  • Cruisin' Leaves its Mark on Ocean City

    Cruisin' Leaves its Mark on Ocean City

    Wednesday, May 24 2017 6:38 PM EDT2017-05-24 22:38:22 GMT
    Thursday, May 25 2017 7:41 AM EDT2017-05-25 11:41:49 GMT

     Cruisin' leaves it's mark on Ocean City. 

    More

    Last weekend's Cruisin' Ocean City event left its mark, in more ways than one. 

    More
Powered by Frankly

All content © Copyright 2000 - 2017 WBOC. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices