The start of the month in February was close to the record, slightly changed from the previous month, continuing the trend that Federal Reserve officials see as a driver of inflation.
WASHINGTON – Job opportunities hit record highs in February, with little change from the previous month, following a trend that Federal Reserve officials see as a driver of inflation.
Last month there were 11.3 million jobs available, matching January figures and just below the December record of 11.4 million, the Labor Department said Tuesday.
The number of Americans quitting their jobs was also historically higher, at 4.4 million. Many people are taking advantage of many opportunities to change jobs, often for higher salaries. Most of those who are resigning do so to take a different position.
The number of outside jobs available has contributed to rising inflation, as many companies have had to raise salaries to attract more applicants. In February, 1.8 was open for every unemployed worker. Before the epidemic, there were usually more unemployed people than job openings.
Unemployment rate, 3.8%, near pre-epidemic 3.5%, the lowest in five decades. And millions more are still working or looking for work than before the epidemic, forcing employers to compete in a small labor pool.