Job Openings At The Highest Level In 73 Months

The JOLTS report came out today and shows that there are more job openings now than at anytime since January 2008. This is slightly higher than what the consensus was predicting. The total number of people who quit their job ticked up slightly in February but the quit rate remained the same. Perhaps somewhat surprisingly, a higher quits level and rate is actually a positive sign for the labor market as it shows that people are willing to take the risk of leaving their current job to find a better job in the market. When the labor market is weak, we see the number of people voluntarily leaving their jobs fall.