Job Openings Growth Unemployment is an issue that has affected many people in different countries around the world. However, in the current state of the U. S. economy, there is potential for growth in job openings based on recent improvements in the performance the country. For instance, in a report by the Labor Department on April 2015, the job number available to the American population rose to the peak record level. This rise reflected that the labor market is growing in a healthy manner. In April, the number of open jobs was 5.4 million, which was a rise by 0.3 million compared to March, which was at 5.1 million.
This figure reflected the highest level of open jobs since the Labor Department started evaluating labor turnover and job openings in 2000. The number of hired individuals in April was slightly dip compared to March since it stood at 5 million. However, the share of employees who decided to leave their jobs on a voluntary basis went down marginally in April, although it lingered at 1.9 percent (Harrison). The trends noted at jolts data have remained solid in the recent months.
They are reliable as other job market signs, revealing that it is improving in a solid manner. In 2015, a large number of job opportunities have opened up in the social assistance, health care, and service industries. Nevertheless, in the logging and mining industries, the number of jobs fell, an indication that employers were responding to the changing prices in the energy sector. The number of newly hired individuals in 2015 rose notably among food and hotel-service industries. They also rose among local and state governments, reflecting healthier budgets (Harrison).
The rise in the number of jobs may indicate that wages will grow in the coming months. In order for firms to fill the emerging vacancies, they will need to devise ways of attracting employees from other occupations or firms. This is because workers feel they will encounter appealing job opportunities in other occupations, unlike the ones they are working in at the present. The best way in which firms can realize this goal is by raising the wages they offer them.
Moreover, the number of open jobs reported by the Labor Department has traditionally lagged behind number of hires. Nonetheless, in the recent months, especially in April, the number of job openings was higher than hires by 369,000. This is an indication that the labor market is doing well, promising a more productive economy in the coming months (Harrison). Furthermore, the percentage of employees discharged or laid off each month has remained unchanged at 1.3 percent. However, even though the portion of employees who leave their jobs on a voluntary basis went down marginally, it remained high compared to any point in the recovery process.
Some individuals support those people who decide to leave their jobs voluntarily, as they consider them vital indicators of labor market wellbeing (Harrison). Thus, based on the growth that the labor market in the U. S. is witnessing, I would propose that the government and other key players in the labor market, such as the private sector to offer additional opportunities for increasing job opportunities. This will help raise wages, which boosts the level of consumer spending that later leads improved performance and growth of the economy.
Work Cited Harrison, David. Job Openings Rise to Record. The Wallstreet Journal. 9 Jun. 2015, web. 12 Jun. 2015..