Overview

• April job vacancies rose by 191,000 to 7.39 million, topping expectations for a decline.
• Layoffs climbed by 196,000 to 1.786 million in April even as hiring reached a seven-month high of 5.573 million.
• The quits rate held at 2 percent in April, underscoring sustained worker confidence despite a modest pullback.
• ADP data showed private-sector firms added just 37,000 jobs in May, the smallest gain since March 2023.
• Businesses are proceeding cautiously on new hires as President Trump’s tariffs and signs of slowing growth weigh on sentiment.