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CNN —The number of available jobs in the US unexpectedly grew in May, signaling continued resilience in the nation’s labor market. Job openings jumped higher to 8.14 million in May, from a downwardly revised 7.91 million in April, according to the Bureau of Labor Statistics’ latest Job Openings and Labor Turnover Survey (JOLTS) report released Tuesday. While both hires and job openings rates (as a percentage of total employment) ticked higher for May, the quits rate and layoffs rate were unchanged. The labor market appears to be at a crossroads, Nick Bunker, Indeed Hiring Lab’s head of economic research, wrote in commentary posted Tuesday. But some Fed officials have noted that the job market has lost momentum recently and that it’s highly unclear whether it will continue to hold steady or weaken further.
Persons: Economists, , ” Robert Frick, switchers, David Tinsley, Nick Bunker, ” Bunker, , you’ve, Austan Goolsbee, ” Marisa DiNatale Organizations: CNN, Bureau of Labor Statistics ’, Labor, Navy Federal Credit Union, Industries, Bank of America, Bank of America Institute, , Federal Reserve, Chicago Fed, Bloomberg, European Central Bank, Moody’s, Labor Statistics Locations: Sintra , Portugal
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