The Bureau of Labor Statistics reported that job openings unexpectedly increased from 6.9 million in March to 7.6 million in April, reaching the highest level since May 2024, despite a recent low of 6.6 million in December 2024; however, this increase was accompanied by a decrease in hires to 5.1 million (down 419,000) and a hiring rate of 3.2%, while the unemployment rate remained steady at 4.3%.
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Job openings rise to highest level in nearly two yearsHinzugefügt:
The number of job openings unexpectedly increased in April to the highest level since May 2024. The Bureau of Labor Statistics Job Openings and Labor Turnover Survey showed that job openings increased from 6.9 million in March to 7.6 million in April. The job openings had largely declined since peaking in March 2022 with a recent low of 6.6 million notched in December. The reading was much higher than anticipated. Most economists were expecting job openings to remain static.
But other aspects of the report were not as encouraging. The number of hires in April decreased by 419,000 to 5.1 million and the rate of hiring was at 3.2% according to the JOLTS report. The survey reports gross hiring and firing rather than the more widely cited net figures in the monthly jobs reports.
The unemployment rate also held steady at a relatively low 4.3%.
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