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Analysts at Nomura point out that job openings increased 65k to 6698k in April, marking the first time since JOLTS started in 2000 that vacancy postings outnumbered the unemployed (6346k in the same month).

Key Quotes

“The quits rate remained at 2.3% during the month, its after recession high, but below the 2.6% reading in January 2001. In addition, the layoff rate remained subdued at 1.2%, consistent with low reading of initial jobless claims. Taken altogether, recent JOLTS data indicate sustained worker demand as the US economy continues to grow above potential.”