Market Updates
Increase In Job Openings Suggest Tight Labor Market Conditions In April
Brian Turner
31 May, 2023
New York City
The number of job openings in May unexpectedly increased, the Bureau of Labor Statistics reported Wednesday.
Job openings increased 358,000 to 10.1 million at the end of April, rebounding from nearly a two-year low of 9.745 million in March.
Job market remains tight for the second year in a row and despite the multiple interest rate hikes, the labor market shows no sign of easing.
In April, job openings increased in retail trade by 209,000, health care and social assistance by 185,000, and transportation, warehousing, and utilities by 154,000.
Over the month, the number of hires changed little at 6.1 million and total separations decreased to 5.7 million.
Within separations, quits changed little at 3.8 million, while layoffs and discharges fell to 1.6 million.
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