Overview
- Private employers added 109,000 jobs in April, ADP reported Wednesday, topping forecasts as pay rose 4.4% for job-stayers and 6.6% for job-changers.
- The Labor Department’s JOLTS report, released Tuesday, showed March hires jumped by about 655,000 to 5.554 million as the hiring rate reached 3.5%, the highest since early 2024.
- Job openings held near 6.87 million in March, signaling steady but subdued demand compared with the 2021–2022 peaks.
- Layoffs rose to about 1.867 million in March and the quits rate ticked up to 2%, pointing to slightly more churn even as the overall layoff rate stayed low at 1.2%.
- Economists warn the U.S.–Israel/Iran war has lifted oil and other commodity costs, which could curb hiring and spending as the Federal Reserve holds rates steady following its decision last week.