There were approximately 3.7 million job openings on the last business day of March, down 468,000 year-over-year, according to numbers released today by the U.S. Bureau of Labor Statistics. There were 4.2 million job openings in March 2007.

The job openings rate was 2.6% in March compared with 3.0% in March 2007.

The number of hires fell 281,000 to 4.5 million in March from 4.8 million a year ago, according to the BLS. The hires rate was 3.3% in March, down from 3.5% a year ago.

Separations declined by 285,000 year-over-year to almost 4.4 million in March. The separations rate was 3.2% in March compared with 3.4% in March 2007.