US job openings unexpectedly jump, though hiring eases

(Sharecast News) - Job openings in the US unexpectedly jumped in April, according to the Bureau of Labor Statistics on Tuesday, hitting their highest levels in nearly two years.

The number of job openings nationwide rose to 7.618m in April from 6.887m in March, according to the closely watched Job Openings and Labor Turnover Summary report.

This was the highest level since May 2024 and well ahead of the consensus estimate for a broadly flat reading of 6.880m.

The data will come as a slight relief to the government amid concerns that heightened macroeconomic volatility and inflationary pressures are having a negative impact on the labour market.

With that being said, the number of hires during the month did fall to 5.116m from 5.535m, pulling the hiring rate to 3.2% from 3.5%.

At the same time, however, the number of total separations (comprising quits and layoffs) fell to 4.978m from 5.377m.