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4h ago

U.S. Job Openings Jump to 7.62 Million as Hiring Falls

The surprise April surge widens the gap between employer demand and worker moves, signaling pressure for the Federal Reserve to keep rates steady in June.

An employee hiring sign with a QR code is seen in a window of a business in Arlington, Virginia, U.S., April 7, 2023. REUTERS/Elizabeth Frantz
FILE - A hiring sign is displayed at a restaurant in Niles, Ill., Thursday, May 14, 2026. (AP Photo/Nam Y. Huh, File)
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Overview

  • The Labor Department's April JOLTS report released Tuesday showed openings rose about 731,000 to roughly 7.618 million, the highest level since May 2024.
  • Measured hiring fell by about 419,000 to roughly 5.12 million in April while quits dropped to just under 3 million, the lowest quits level since August 2020.
  • Nearly all of the increase in vacancies came from professional and business services, which added about 668,000 openings and may reflect strong demand for tech and related roles.
  • Markets and economists say the mixed picture of rising openings but weaker hiring strengthens expectations the Fed will hold its policy rate at 3.50%–3.75% at its June meeting and will shape flows into assets such as Bitcoin.
  • The report reinforces the low-hire, low-fire pattern seen since 2025 driven by retirements, lower immigration and higher energy-driven inflation, and it makes this week's ADP, jobless claims and May payrolls reports especially important ahead of the Fed meeting.