Open job openings in the US rise in May, Jolts points out

Open job openings in the United States increased in May, while hiring remained weak, suggesting that the job market remains at a stable level despite three consecutive months of strong job growth.

Open job openings, an indicator of labor demand, increased by 9,000 to 7.594 million on the last day of May, the Department of Labor's Bureau of Labor Statistics said in its Jolts report on Tuesday.

April's data was revised downwards, going from 7.618 million, as previously announced, to 7.585 million unfilled vacancies. The majority of vacancies in April were concentrated in the professional and business services sector and in companies with fewer than 10 employees. Economists consulted by Reuters predicted 7.30 million job openings in May.

Hiring fell by 45,000 last month to 5.170 million. The economy has recorded three consecutive months of strong job growth, raising optimism that the labor market is regaining momentum after a stumble in 2025. Part of the strength in employment growth reflects fewer layoffs.

The U.S. jobs report for June, due out on Thursday, is expected to show an increase of 110,000 jobs last month, after 172,000 in May, according to a Reuters poll of economists. The unemployment rate is expected to remain at 4.3% for the fourth consecutive month.

Financial markets expect the Federal Reserve to raise interest rates later this year to combat inflation fueled by the US-Israel war on Iran. The US central bank this month kept the benchmark interest rate in a range of 3.50% to 3.75%.

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Source: CNN