US job openings unexpectedly rise in April
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The news: US job openings unexpectedly rose in April to 7.39 million, up from a revised 7.2 million in March, according to the Labor Department’s Job Openings and Labor Turnover Survey.
The numbers: Economists had expected vacancies to fall to 7.1 million. Hiring also increased by 169,000 to 5.573 million, the highest in nearly a year. Layoffs climbed by 196,000 to 1.786 million, while the number of Americans quitting their jobs declined.
The number of job openings per unemployed worker held at 1.0, down from a peak of 2 to 1 in 2022. Private-sector gains were led by professional and business services and health care and social assistance, while manufacturing and leisure and hospitality saw declines.
The news: The US labour market has remained resilient despite uncertainty tied to President Donald Trump’s trade policies, and cuts to the federal workforce by billionaire Elon Musk’s Department of Government Efficiency.
The data comes ahead of the nonfarm payrolls report for May due Friday, which economists expect will show 130,000 new jobs and a 4.2% unemployment rate.
The source: US Bureau of Labor Statistics
