U.S. Job Openings Rebound In April, But Layoffs Also Rise

U.S. job openings rose in April while layoffs also picked up, suggesting a slowing labor market amid economic uncertainty driven by tariffs, Lucia Mutikani reported for Reuters.

The increase in vacancies may reflect a correction following March’s sharp drop. I Photo: U.S. Department of Labor Facebook

According to the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS), job vacancies increased by 191,000 to 7.391 million by the end of April. March figures were also revised up to 7.2 million, from the previously reported 7.192 million.

Economists surveyed by Reuters had forecast 7.1 million openings.

The increase in vacancies may reflect a correction following March’s sharp drop. Hiring rose by 169,000 to 5.573 million, while layoffs increased by 196,000 to 1.786 million.

Consumer confidence in the labor market has weakened, as reflected in the Conference Board’s labor market differential. May's employment report is expected to show nonfarm payrolls increased by 130,000 jobs, down from 177,000 in April.

The unemployment rate is projected to remain at 4.2%, though a slight rise to 4.3% is possible. The global economy, meanwhile, is headed for its weakest growth since the pandemic.