US Job Openings Dip , But Remain High.<br />ABC reports that U.S. job openings fell in May <br />but managed to tread water at levels high enough <br />to suggest that the labor market remains <br />resilient amid high interest rates.<br />ABC reports that U.S. job openings fell in May <br />but managed to tread water at levels high enough <br />to suggest that the labor market remains <br />resilient amid high interest rates.<br />On July 6, the U.S. Labor Department said that <br />employers posted 9.8 million job openings in <br />May, down from April's 10.3 million.<br />Meanwhile, the number of layoffs fell slightly, <br />while more U.S. workers quit their jobs.<br />ABC reports that the numbers suggest those <br />who quit felt confident they could find better- <br />paying jobs with improved working conditions. .<br />While the number of job openings in health care, <br />insurance and finance fell, the number of postings <br />for education and government positions increased.<br />According to Nick Bunker, research <br />director at the Indeed Hiring Lab, , "demand for new hires remains <br />elevated and employers are still <br />holding onto the workers they have.''.<br />Bunker says the Labor Department's Job <br />Openings and Labor Turnover Survey (JOLTS), , "continues to reflect a gradually slowing <br />yet still-robust labor market, one that is <br />cooler than a year ago but still hot.".<br />ABC reports that compared to historic standards, <br />the current number of job openings remains high, <br />despite the Federal Reserve's aggressive rate hikes. .<br />ABC reports that compared to historic standards, <br />the current number of job openings remains high, <br />despite the Federal Reserve's aggressive rate hikes. .<br />Since March of last year, the Fed <br />has increased its benchmark short-term <br />interest rate a total of ten times.<br />Since March of last year, the Fed <br />has increased its benchmark short-term <br />interest rate a total of ten times.<br />As a result, economic growth has slowed, <br />while consumer prices increased 4% in <br />May, twice the Fed's stated 2% goal.
