Latest news with #BureauofLaborStatistics'
NBC News
2 hours ago
- Business
- NBC News
Job openings showed surprising increase to 7.4 million in April
Employers increased job openings more than expected in April while hiring and layoffs also both rose, according to a report Tuesday that showed a relatively steady labor market. The Bureau of Labor Statistics' Job Openings and Labor Turnover Survey showed available jobs totaled nearly 7.4 million, an increase of 191,000 from March and higher than the 7.1 million consensus forecast by economists surveyed by FactSet. On an annual basis, the level was off 228,000, or about 3%. The ratio of available jobs to unemployed workers was down to 1.03 to 1 for the month, close to the March level. Hiring also increased for the month, rising by 169,000 to 5.6 million, while layoffs rose by 196,000 to 1.79 million. Quits, an indicator of worker confidence in their ability to find another job, edged lower, falling by 150,000 to 3.2 million. 'The labor market is returning to more normal levels despite the uncertainty within the macro outlook,' wrote Jeffrey Roach, chief economist at LPL Research. 'Underlying patterns in hirings and firings suggest the labor market is holding steady.' The report comes just a few days ahead of the BLS nonfarm payrolls count for May. With other signs, particularly sentiment data, showing that hiring is softening, economists expect job growth of 125,000, down from the 177,000 in April but still indicative of a solid labor market. The unemployment rate is expected to hold steady at 4.2%. In other economic news Tuesday, the Commerce Department reported that new orders for manufactured goods fell more than expected in April. Orders fell 3.7% on the month, more than the 3.3% Dow Jones forecast and indicative of declining demand after swelling 3.4% in March as businesses sought to get ahead of President Donald Trump's tariffs. Shipment also fell, down 0.3%, while unfilled orders were relatively flat and inventories edged down 0.1%. Federal Reserve officials are watching the various data points carefully for clues as to how various factors are affecting the broader economic picture. There is some fear that the tariffs will raise inflation and slow hiring, though that hasn't showed up yet in the hard data. Sentiment surveys, by contrast, show heightened fears over both. 'For many sectors, I'm not hearing that the labor markets are changing in material ways,' Atlanta Fed President Raphael Bostic said in a scrum with reporters Tuesday. 'At the macro level, I haven't gotten sort of a strong overarching picture or impression that things are moving in a significant way, and we'll just have to see if that stays or whether something changes.' Traders largely expect the Fed to keep its benchmark borrowing rate steady in a range between 4.25%-4.5%, where it has been since December 2024. The market thinks the Fed won't cut again until September, and Bostic said he only would favor one reduction this year.
Epoch Times
9 hours ago
- Business
- Epoch Times
Job Openings Unexpectedly Jump to 7.39 Million in April: JOLTS
Employment vacancies unexpectedly rose in April, reaffirming the health of the U.S. labor market amid economic uncertainty. According to the Bureau of Labor Statistics' Job Openings and Labor Turnover Summary (JOLTS), job openings climbed by 191,000 to 7.391 million, from the upwardly revised 7.2 million in March.
CNBC
9 hours ago
- Business
- CNBC
Job openings showed surprising increase to 7.4 million in April
Employers increased job openings more than expected in April while hiring and layoffs also both rose, according to a report Tuesday that showed a relatively steady labor market. The Bureau of Labor Statistics' Job Openings and Labor Turnover Survey showed available jobs totaled nearly 7.4 million, an increase of 191,000 from March and higher than the 7.1 million consensus forecast by economists surveyed by FactSet. On an annual basis, the level was off 228,000, or about 3%. The ratio of available jobs to unemployed workers was down close to 1:1 for the month. Hiring also increased for the month, rising by 169,000 to 5.6 million, while layoffs fell by 196,000 to 1.79 million. Quits, an indicator of worker confidence in their ability to find another job, edged lower, falling by 150,000 to 3.2 million. In other economic news Tuesday, the Commerce Department reported that new orders for manufactured goods fell more than expected in April. Orders fell 3.7% on the month, more than the 3.3% Dow Jones forecast and indicative of declining demand after swelling 3.4% in March as businesses sought to get ahead of President Donald Trump's tariffs. This is breaking news. Please refresh for updates.
Yahoo
23-05-2025
- Business
- Yahoo
If Social Security Runs Out, How Long Will $2 Million Last in the South?
In a worst-case scenario in which Social Security runs out, retirees in the South are in a financially fortunate position. A savings of $2 million will last at least 30 years, if not longer, to fund retirement in every Southern state. Be Aware: Try This: This data was pulled from a new GOBankingRates study that analyzed how long $2 million in retirement savings could last in every U.S. state. A full methodology is available at the end of this article. Here's how long $2 million lasts in the South, should Social Security run out. Annual expenditures: $53,357 Years $2 million will last: 37.5 National average: 33.3 years See More: Explore Next: Annual expenditures: $53,477 Years $2 million will last: 37.4 National average: 33.3 years Read More: Annual expenditures: $60,207 Years $2 million will last: 33.2 National average: 33.3 years Annual expenditures: $61,529 Years $2 million will last: 32.5 National average: 33.3 years Annual expenditures: $54,980 Years $2 million will last: 36.4 National average: 33.3 years That's Interesting: Annual expenditures: $55,821 Years $2 million will last: 35.8 National average: 33.3 years Annual expenditures: $56,181 Years $2 million will last: 35.6 National average: 33.3 years Annual expenditures: $59,426 Years $2 million will last: 33.7 National average: 33.3 years View More: Annual expenditures: $52,576 Years $2 million will last: 38 National average: 33.3 years Annual expenditures: $58,645 Years $2 million will last: 34.1 National average: 33.3 years Annual expenditures: $52,816 Years $2 million will last: 37.9 National average: 33.3 years Trending Now: Annual expenditures: $57,203 Years $2 million will last: 35 National average: 33.3 years Annual expenditures: $54,078 Years $2 million will last: 37 National average: 33.3 years Annual expenditures: $55,641 Years $2 million will last: 35.9 National average: 33.3 years For You: Annual expenditures: $60,387 Years $2 million will last: 33.1 National average: 33.3 years Annual expenditures: $50,954 Years $2 million will last: 39.3 National average: 33.3 years Methodology: GOBankingRates found the national average annual expenditures for people 65 and older, sourced from the Bureau of Labor Statistics' 2023 Consumer Expenditure Survey data. Then, GOBankingRates created (2) state-level annual expenditure estimates by multiplying the national figure by each state's overall cost-of-living index score for 2024 from the Missouri Economic Research and Information Center. Finally, GOBankingRates found (3) how many years $2 million will last in each state by dividing $2 million by each state's average annual expenditures estimate and its annual expenditures estimate minus yearly Social Security income. All data was collected on and is up to date as of March 7, 2025. More From GOBankingRates Surprising Items People Are Stocking Up On Before Tariff Pains Hit: Is It Smart? The Most Expensive Disney Merchandise Ever Sold -- and Who's Buying It Here's the Minimum Salary Required To Be Considered Upper Class in 2025 This article originally appeared on If Social Security Runs Out, How Long Will $2 Million Last in the South? Sign in to access your portfolio
Yahoo
22-05-2025
- Business
- Yahoo
If Social Security Runs Out, How Long Will $2 Million Last on the West Coast?
Will Social Security benefits run out in your lifetime? A new GOBankingRates study analyzed this 'what if?' scenario and how it might impact the time horizon for $2 million in retirement savings. Be Aware: Learn More: Given that these states have a high cost of living, this savings only allows retirees on the West Coast (and in states in the Pacific region, like Alaska and Hawaii) to cover up to 30 years in retirement on the high end, and as few as 18 years on the low end. See how long $2 million stretches in retirement savings in these West Coast states. Annual expenditures: $74,147 Years $2 million will last: 27 National average: 33.3 years Find Out: Read More: Annual expenditures: $86,946 Years $2 million will last: 23 National average: 33.3 years That's Interesting: Annual expenditures: $110,921 Years $2 million will last: 18 National average: 33.3 years Annual expenditures: $66,096 Years $2 million will last: 30.3 National average: 33.3 years Annual expenditures: $68,259 Years $2 million will last: 29.3 National average: 33.3 years Methodology: GOBankingRates found the national average annual expenditures for people 65 and older, sourced from the Bureau of Labor Statistics' 2023 Consumer Expenditure Survey data. Then, GOBankingRates created (2) state-level annual expenditure estimates by multiplying the national figure by each state's overall cost-of-living index score for 2024 from the Missouri Economic Research and Information Center. Finally, GOBankingRates found (3) how many years $2 million will last in each state by dividing $2 million by each state's average annual expenditures estimate and its annual expenditures estimate minus yearly Social Security income. All data was collected on and is up to date as of March 7, 2025. More From GOBankingRates Surprising Items People Are Stocking Up On Before Tariff Pains Hit: Is It Smart? The Most Expensive Disney Merchandise Ever Sold -- and Who's Buying It 3 Reasons Retired Boomers Shouldn't Give Their Kids a Living Inheritance This article originally appeared on If Social Security Runs Out, How Long Will $2 Million Last on the West Coast? Sign in to access your portfolio
