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2d ago

U.S. Job Vacancies Hit Highest Since November on Private-Sector Surge

Strong private-sector demand in hospitality and finance drove vacancies to a six-month high just as federal job postings fell to multi-year lows.

People wait in a line outside a newly reopened career center for in-person appointments in Louisville, Kentucky, U.S., April 15, 2021. REUTERS/Amira Karaoud/File Photo
The number of available jobs rose to a six-month high in May.
Economists expect that job growth slowed in June to 115,000 jobs and that the unemployment rate rose to 4.3%.
FILE - A help wanted sign is posted in Lansdale, Pa., Friday, April 28, 2023. (AP Photo/Matt Rourke, File)

Overview

  • May openings climbed by 374,000 to 7.769 million, beating economist forecasts and marking the strongest level since last November.
  • Private employers led the gain, with accommodation and food services adding 314,000 openings and finance and insurance contributing 91,000.
  • Federal government vacancies dropped by 39,000 to 89,000 and federal hires fell by 11,000 to 22,000, reflecting ongoing restructuring efforts.
  • Overall hiring slipped by 112,000 to 5.503 million even as layoffs declined by 188,000 to 1.601 million, underscoring a still-tight labor market.
  • The vacancies-per-unemployed-worker ratio rose to 1.1, a key Federal Reserve gauge signaling persistent demand for workers.