U.S. job openings saw an unexpected increase in May, the Associated Press reports. The news signals a still-resilient American labor market, despite high borrowing costs and general economic uncertainty.
The Labor Department U.S. employers posted 7.8 million vacancies in May, up from 7.4 million in April and the highest since the 8 million posted in November. Economists had forecast a slight drop to 7.3 million.
Openings were reported at hotels, restaurants and financial companies. Federal government vacancies hit their lowest level since May 2020, most likely due to President Donald Trump’s hiring freeze.
The report showed that hiring fell in May, suggesting that while employers are reluctant to lose staff, they are hesitant to add new workers amid a hazy economic outlook.
