US Job Openings Fall to 8.059M, Lowest Level in Over Three Years

Jun 4, 2024, 02:02 PM

US job openings fell significantly in April, reaching the lowest level in over three years. The Job Openings and Labor Turnover Survey (JOLTS) reported 8.059 million openings, below the estimated 8.35 million and the previous month's revised figure of 8.36 million. This decline from March's 8.49 million and the previous 8.488 million highlights a continued weakening in the labor market. The data suggests a gradual slowdown, with job openings approaching levels seen in February 2021. The market's reaction to the weaker data included a small bid in the S&P 500, and there is speculation that fewer job openings could lead to sooner rate cuts by the Federal Reserve.