Job openings stayed at a near-record level in February, little changed from the previous month, continuing a trend that Federal Reserve officials see as a driver of inflation.
FILE - A"now hiring" sign is posted in Garnet Valley, Pa., Monday, May 10, 2021. Job openings stayed at a near-record level in February, 2022, little changed from the previous month, continuing a trend that Federal Reserve officials see as a driver of inflation. – Job openings hovered at a near-record level in February, little changed from the previous month, continuing a trend that Federal Reserve officials see as a driver of inflation.
Tuesday’s report is separate from the government’s monthly employment report, which in February showed that employersThe data “shows that the labor market remains torrid,” Stephen Stanley, chief economist at Amherst Pierpont, said in a research note. “In a month when the economy added 678,000 jobs, the number of job openings only went down by 17,000. That speaks to the depth of the bid that employers have for labor.
The unemployment rate, at 3.8%, is near the pre-pandemic level of 3.5%, which was the lowest in five decades. And there are still several million fewer people working or looking for work than before the pandemic, forcing employers to compete among a smaller labor pool.
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