Job Openings Reach 2.5 Year High in March

Includes: DIA, QQQ, SPY
by: Mark J. Perry
The BLS reported yesterday that private job openings in the U.S. increased to 2,770,000 in March, reaching the highest level since August 2008, two and-a-half years ago (see red line above, click to enlarge). Total job openings increased to 3,124,000 in March, which is the highest level since September 2008 (see blue line). Compared to March of 2010, private job openings have increased by 23.2% over the last year, and total openings by 15.8%.

Since the recession ended in June 2009, job openings have increased by more than one million, reflecting an upward trend in job demand by U.S. companies as the economic recovery strengthens. Job openings typically lead actual hiring by several months, and therefore provide an accurate leading indicator of future job growth. We can expect ongoing improvements in the labor market, as more job openings get filled in the coming months.