Latest news with #jobopenings
Fast Company
6 days ago
- Business
- Fast Company
Job openings ticked up more than anticipated in April, as layoffs also rose
Job openings saw an unexpected rise for the month of April. According to data from the Bureau of Labor Statistics, available jobs rose by 191,000 from the previous month to nearly 7.4 million. The increase was higher than the 7.1 million jobs FactSet economists had anticipated for the time period. The percentage of unemployed workers dropped from 1.03% to 1%, and hiring rose by 169,000 to 5.6 million. Federal job openings are up Somewhat surprisingly, given the Department of Government Efficiency's mass layoffs, federal job openings also rose. In March, there were 121,000 federal jobs open. In April, that number was up to 134,000. Federal layoffs also fell to 4,000 from 8,000 in March. That was down from a staggering 19,000 in February. While DOGE cut at least 280,000 jobs during President Trump's first several months in office, according to recent estimates from Yahoo Finance, thousands more likely lost jobs indirectly due to cuts to federal funding. The Trump administration has cut billions in funding to national parks, disease research, national security, and more. April's uptick in federal job openings could be at least partially due to the fact that several federal departments scrambled to hire employees back after conducting mass layoffs. An uncertain moment for workers In spite of an increase in job openings more generally, layoffs also rose, jumping to 1.79 million—an increase of 196,000. And the number of people leaving their jobs by choice, a good predictor of worker confidence, fell by 150,000 to 3.2 million, showing workers may be becoming weary about their ability to find new employment. Carl Weinberg, chief economist at High Frequency Economics, told Reuters that the latest report is a sign that companies are retaining employees while awaiting the impact of new Trump-era policies. 'Once companies are more certain that bad times are coming, they will start to shed workers.' Weinberg continued, 'However, the economy is still near full employment. We suspect companies are still hoarding workers until they are very, very sure about an economic downturn.″
Wall Street Journal
7 days ago
- Business
- Wall Street Journal
Global Markets Rose, U.S. Futures Flat After U.S. Tech-Led Rally
Global markets were mostly higher and U.S. futures were flat after rising Tuesday on a tech rally that leap-frogged Nvidia back to the world's most valuable company, and as U.S. labor-market data eased fears over the effect of President Trump's tariffs on the global economy. Labor market data Tuesday showed a better-than-expected 7.4 million job openings in April, according to the U.S. Labor Department. The May jobs report is due at the end of this week.
Bloomberg
7 days ago
- Business
- Bloomberg
Gold Holds Decline After US Jobs Data Deters Demand for Havens
Gold steadied after falling in the previous session due to an unexpected increase in US job openings, which buoyed risk-on sentiment and helped strengthen the dollar. The precious metal was trading near $3,360 an ounce, following a 0.8% decline on Tuesday. The rise in job openings encouraged investors that the US economy remains resilient despite threats from President Donald Trump's tariff agenda.
Washington Post
03-06-2025
- Business
- Washington Post
Job openings increased in April, even as trade war heated up
Job openings in the United States rose unexpectedly in April, suggesting that the labor market remained healthy despite economic headwinds, fueled by President Donald Trump's tariff policy, which drove the financial markets into turmoil during that same period. The number of available jobs rose to 7.39 million, up from a revised 7.2 million in March, according to data released Tuesday by the Bureau of Labor Statistics, surpassing expectations. 'The labor market is returning to more normal levels despite the uncertainty within the macro outlook,' said Jeffrey Roach, Chief Economist for LPL Financial, referring to an ongoing cooldown in the jobs market. The jump in openings was driven by white collar industries and health care. Meanwhile, demand for workers dropped off in tariff-sensitive industries such as manufacturing and construction, as well as state and local government, as tax revenue have fallen. The new data paints a more optimistic view of the economy in April, which was rattled by a cascade of tariff announcements that rocked Wall Street and Main Street. Consumer spending, which had already been sluggish, cooled significantly in April, as families exercised caution amid tariff uncertainty. Corporate profits also fell sharply, by $118 billion, in the first quarter, the largest drop since early in the pandemic, the GDP report showed. But the labor market appears to be on solid ground, with unemployment hovering new historic lows at 4.2 percent. The rate of hiring also regained lost ground, reaching its highest point in April since September, according to Tuesday's data. And inflation has also fallen from recent peaks, easing pressure on households. The Bureau of Labor Statistics will release its jobs report for May on Friday, providing a fresh view on the state of the labor market. Economists predict employers added 175,000 jobs and the unemployment rate may tick up to 4.3 percent.
Globe and Mail
03-06-2025
- Business
- Globe and Mail
U.S. job openings rebound in April, but layoffs rise
U.S. job openings increased in April, but layoffs picked up in a move consistent with a slowing labour market amid a dimming economic outlook because of tariffs. Job openings, a measure of labour demand, rose 191,000 to 7.391 million by the last day of April, the U.S. Labour Department said on Tuesday. Data for March was revised higher to 7.200 million open positions instead of the previously reported 7.192 million. Tariff turmoil could continue for months. Here are five suggestions for what to do with your money In the Trump era, Canada must expand its trade horizons. Enter Alison Nankivell Economists polled by Reuters had forecast 7.10 million vacancies. April's rise in vacancies was likely a correction following March's sharp decline. Hiring increased by 169,000 to 5.573 million in April. Layoffs rose 196,000 to 1.786 million. Economists say the on-again, off-again manner in which the import duties are being implemented is making it difficult for businesses to plan ahead. A U.S. trade court last week blocked most of President Donald Trump's tariffs from going into effect, ruling that the President overstepped his authority. But the tariffs were temporarily reinstated by a federal appeals court on Thursday, adding to the uncertainty facing businesses. Consumers are increasingly becoming less confident about the jobs market and the Conference Board's labour market differential has narrowed considerably this year. That could be reinforced by May's employment report, which is scheduled for release on Friday. Non-farm payrolls likely increased by 130,000 jobs last month after advancing by 177,000 in April, a Reuters survey of economists showed. The unemployment rate is forecast to hold steady at 4.2 per cent, with greater risks of a rise to 4.3 per cent.
