U.S. Job Openings at Eight-Month High

An eight-month high in March job openings and a pickup in quits indicate the U.S. labor market continues to tighten, a Labor Department report showed.

The report gives a glimpse into a weaker-than-expected reading for payrolls in March, when the reading was partly depressed by a snowstorm that slammed the Northeast during the survey week. While a high number of openings shows companies are still willing to hire, managers are having trouble finding skilled and experienced labor to fill open positions. A subdued level of layoffs shows they are choosing to hold onto the staff they have instead. A tightening labor market could translate to a breakout in wages after months of lackluster growth. An elevated number of people quitting their jobs shows that workers are confident enough of finding better wages elsewhere.