After a better-than-forecast jobs report last week, new economic indicators this week are pointing to a rebounding labor market, offering more opportunities and bargaining power for American workers.
The number of job openings was up 5.1% in February compared with a year ago before the economic fallout from the pandemic took hold in the U.S., according to the Labor Department’s latest JOLTS report. There were almost 7.4 million openings on the last business day in February.
“[The] report is a cause for more optimism for job seekers,” Nick Bunker, director of research at Indeed, told Yahoo Money. “If you’re someone who’s out of work, there are more opportunities for you to find a job. If you already have a job but are looking for a new one, it does look like there are more chances to find a new position.”