US job openings rose to 8.14 million in May, BLS says

This Tuesday, the Bureau of Labor Statistics (BLS) published the results of the Job Openings and Labor Turnover Survey (JOLTS) report in which it was learned that Job vacancies increased by 8.14 million last month.

According to these official figures, The number of available jobs in the United States increased more than FactSet economists had anticipated who expected a drop of 7.91 million vacancies.

In this regard, Robert Frick, corporate economist at Navy Federal Credit Union, indicated that this latest report is a sign that the labor market remains strong.So far there are no signs that job growth will slow down this year.so consumer purchasing power will continue to increase and expansion looks solid,” he said.

Despite The figures for recently submitted job offers are positive for the labour marketl, there is currently a trend where Americans are remaining unemployed for longer.

This situation was presented by the Department of Labor through a report in which it was considered that The trend may be driven by tightening working conditions making it difficult for Americans to find new jobs.

The BLS analysis details that layoffs rose to 1.54 million in May, hiring also rose by about 5.76 million last month, and Voluntary resignations rose by 3.46 million in May from 3.45 million in April.

Economist Ian Shepherdson noted that “No indicator points to a large increase in applicationsbut it should be noted that struggling companies generally prefer to reduce employment initially by cutting hiring, rather than laying off staff, and most hiring indicators also point to an imminent deterioration,” he said.

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