America’s red-hot job market just won’t quit - CNN
CNN — The number of available jobs in the US unexpectedly grew in May, signaling continued resilience in the nation’s labor market. Job openings jumped higher to 8.14 million in May, from a downwardly revised 7.91 million in April , according to the Bureau of Labor Statistics’ latest Job Openings and Labor Turnover Survey (JOLTS) report released Tuesday. Economists had expected openings would fall to 7.91 million, according to FactSet consensus estimates. Despite the uptick in job postings, which can be quite volatile , May’s JOLTS report marked a significant milestone for the US labor market: The ratio of job openings to those who are unemployed fell to 1.22 available jobs per job seeker, matching the figure seen in February 2020, a month prior to the pandemic lockdowns that shocked the global economy. That ratio has been steadily moving lower since hitting a record 2.0 in March 2022 , JOLTS data shows. “The report was another sign that the labor market is holding ...
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