Job openings in the United States climbed to their highest level in nearly two years during April, even as hiring fell sharply across the country.
The Bureau of Labor Statistics reported that available employment hit 7.6 million for the month, a surge of 731,000 from the prior month and the highest level since May 2024.
Economists surveyed by Dow Jones had forecast 6.8 million openings from the BLS Job Openings and Labor Turnover Survey, meaning the result came in well above expectations.
The jump in openings pushed available jobs above the total number of unemployed workers, with the rate of openings compared with the labour force rising 0.4 percentage points to 4.6%.
By industry, nearly all of the new openings came from the professional and Business services category, which added 668,000 positions, a possible indicator of the impact from artificial intelligence on labour demand.
Health care and social assistance, described as the greatest engine of job creation, added 89,000 openings, while financial activities saw a decline of 134,000 positions during the same period.
Despite the surge in openings, companies hired a total of 5.12 million workers during April, a decline of 419,000 from March, taking the hiring rate down to 3.2%.
Quits declined to just under 3 million, down 183,000, marking the lowest level of worker mobility since August 2020, signalling reduced confidence among workers in finding new employment.
Layoffs and discharges fell slightly as well, dropping 192,000 to 1.7 million, continuing what analysts have described as a low-hire, low-fire environment in the labour market since early 2025.
Matthew Martin, senior US economist at Oxford Economics, said in a note: “For now, the labor market remains mostly stable. With the quits rate and the layoff rate ticking down in April, neither employees nor employers are in a hurry to make moves.”
Martin added: “The US/Israel-Iran war will test the labor market. Weaker household spending and uncertainty are likely to influence firms’ hiring decisions.”
Federal Reserve officials closely watch the JOLTS numbers for signs of labour slack, having shifted their concerns from labour market weakness toward inflation driven by tariffs and soaring energy prices.
The Fed meets later this month and is widely expected to hold interest rates steady, with policymakers continuing to monitor conditions carefully before making any adjustment to monetary policy.