Job openings in April surged to 7.6 million, the highest in nearly two years
Key points
- Job openings hit their highest level in nearly two years during April while hiring fell sharply, according to a government report Tuesday that showed rising demand but also slow hiring in the labor market.
- The Bureau of Labor Statistics reported that available employment hit 7.6 million for the month, a surge of 731,000 from the prior month and the highest level since May 2024. Economists surveyed by Dow Jones had been looking for 6.8 million openings from the BLS' Job Openings and Labor Turnover Survey.
- The jump in openings put the available jobs above the total of unemployed workers.
- The rate of openings compared with the size of the labor force rose 0.4 percentage point to 4.6%.
- By industry, nearly all of the openings came from the professional and business services category, which added 668,000 positions, a possible indicator of the impact from artificial intelligence on labor demand.
Quick Summary
Job openings hit their highest level in nearly two years during April while hiring fell sharply, according to a government report Tuesday that showed rising
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Key Takeaways
- Job openings hit their highest level in nearly two years during April while hiring fell sharply, according to a government report Tuesday that showed rising demand but also slow hiring in the labor market.
- The Bureau of Labor Statistics reported that available employment hit 7.6 million for the month, a surge of 731,000 from the prior month and the highest level since May 2024.
- Economists surveyed by Dow Jones had been looking for 6.8 million openings from the BLS' Job Openings and Labor Turnover Survey.
- The jump in openings put the available jobs above the total of unemployed workers.
- The rate of openings compared with the size of the labor force rose 0.4 percentage point to 4.6%.
📌 Source: CNBC
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