US job openings decline to 4.99m in March, Labor Department figures show

Figures released by the Labor Department showed US job openings declined to 4.99m in March from 5.14m in the previous month, falling short of analysts’ expectations that called for a largely unchanged reading.

Job openings in March rose 19% year-on-year, as private sector openings climbed by the same margin to 4.51, while government positions rose 17.6% to 488,000.

Official figures showed that, with 8.58m Americans looking employment in March, there approximately 1.72 potential job seekers for each available position, a slight increase from February’s ratio of 1.69.

In the corresponding period in 2014, the number of unemployed people stood at 10.38m, with approximately 2.47 potential seekers per opening, while the current ratio is lower than the pre-recession reading of 1.77.

The number of separations, which includes both layoffs and quits, grew 4% month-on-month to 4.97m, while the total number of hires edged higher 1.2% to 5.07m, slightly higher than the pre-recession figure of 5.04m.