Overview

• Job openings rose to 8.1 million in May, surpassing economists' expectations.
• Layoffs increased to 1.65 million, while the quit rate remained steady at 2.2%.
• The labor market remains strong with 1.25 jobs available per unemployed American.
• Wage growth has slowed, with overall wage increases dropping to 4.9%.
• Economists and Fed officials are closely monitoring labor market trends for potential rate cuts.