Job Openings Hit a Five Year High

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Job Openings Hit a Five Year High
<a href="https://pixabay.com/users/Mediamodifier/">Mediamodifier</a> / Pixabay

As I said (and have said repeatedly for the past three years) the job market continues to mend. March’s jobs number, while it “disappointed” some folks will be revised much higher down the road (Jan/Feb were revised a total of 61k higher). Temp employment continues to climb, new auto sales continue to climb and new home construction continues to rise. Put those together and the only direction employment is going is up.

Job Openings Hit a Five Year High

Now we can add the data point that job openings are a 5 yr. high levels. While there is no guarantee these jobs will be filled in a week or a month or two months, what it does tell us is the job market continue to expand on the demand side. Again, that is healthy and leads to more jobs down the road.

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Do yourself a favor, ignore the weekly jobs number and the first monthly number when it is released. They tell you nothing. Focus on the trend (an expanding job market) and the industries that dive employment (temp, auto, housing). They will tell you all you need to know.

In fact, if you only follow one, follow temp help. It leads BLS numbers up in an expansion and turn south before BLS numbers do when entering recession.

The number of job openings in February was 3.9 million, up from January. (See table 1.) This was the highest number of job openings since May 2008. In February, the number of openings rose in health care and social assistance, accommodation and food services, and state and local government. The number of job openings increased in the Midwest region.

The number of job openings in February (not seasonally adjusted) was up over the year for total nonfarm and total private, and was little changed for government. Job openings increased over the year for construction, finance and insurance, accommodation and food services, and state and local government.

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Todd Sullivan is a Massachusetts-based value investor and a General Partner in Rand Strategic Partners. He looks for investments he believes are selling for a discount to their intrinsic value given their current situation and future prospects. He holds them until that value is realized or the fundamentals change in a way that no longer support his thesis. His blog features his various ideas and commentary and he updates readers on their progress in a timely fashion. His commentary has been seen in the online versions of the Wall St. Journal, New York Times, CNN Money, Business Week, Crain’s NY, Kiplingers and other publications. He has also appeared on Fox Business News & Fox News and is a RealMoney.com contributor. His commentary on Starbucks during 2008 was recently quoted by its Founder Howard Schultz in his recent book “Onward”. In 2011 he was asked to present an investment idea at Bill Ackman’s “Harbor Investment Conference”.

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