US job openings in May hit 7.8 million in a continuing display of labor market resilience
- The U.S. Labor Department reported job openings rose unexpectedly to 7.8 million in May, up from 7.4 million in April.
- This increase defied economists' expectation of a decline to 7.3 million amid ongoing economic uncertainty and high borrowing costs.
- The increase was largely attributed to gains in the private sector, with accommodation and food services contributing 314,000 new openings and finance and insurance adding 91,000, while job vacancies in the federal government declined significantly.
- Job openings reached an all-time high of 12.1 million in March 2022 before decreasing by almost half; nonetheless, they remain elevated compared to historical levels, indicating ongoing strength in the labor market.
- The data suggests a labor market rebalancing with slowing federal hiring linked to government restructuring and a strong yet moderating private sector.
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83 Articles
U.S. job openings rise, defy expectations
KEY TAKEAWAYS: U.S. job openings rose to 7.8 million in May Economists had expected a decline to 7.3 million Hiring slowed but layoffs and quits remained stable Labor market shows resilience despite economic uncertainty U.S. job openings rose unexpectedly in May, a sign that the American labor market remains resilien t in the face of high borrowing costs and uncertainty over U.S. economic policy. U.S. employers posted 7.8 million vacancies…
U.S. job openings in May hit 7.8 million in continuing display of labor market resilience
U.S. job openings rose unexpectedly in May, a sign that the American labor market remains resilien t in the face of high borrowing costs and uncertainty over U.S. economic policy.
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- 69% of the sources are Center
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