Job openings soared dramatically by 94,000 in February in the US due to 4.35 million employees having quit their jobs the same month.

This led to the gap between available jobs and the unemployed widening even further.

It is also a quite higher percentage of the workforce, rising from 2.8 percent to 2.9 percent.

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There were 11.27 million new openings in the month during the same time, a slight drop from January.

But, with the overall number of unemployed falling to 6.27 million, there are now a record five million more vacancies than available workers.

This means there are 1.8 jobs for every unemployed person.

Education and health services with 2.23 million topped the sector with most job opportunities for the month.

It is followed by professional and business services with 2.1 million and trade, transportation, and utilities with 1.86 million.

The quit rate fell down from its peak of 4.51 million in November 2021, accounting for three percent of the total workforce.

At 1.06 million, trade, transportation, and utilities had the greatest level.

Leisure and hospitality, a significant part of the post-pandemic economic recovery, saw its quit rate remain constant at 5.6 percent.

The increased number of resignations is part of what some refer to as the “Great Resignation,” in which individuals have been allowed to leave their existing jobs in search of better prospects.

Source: CNBC

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