Job openings in the U.S. rose in April, suggesting that the labor market is still doing well “despite economic headwinds fueled by President Donald Trump’s tariff policy, which drove the financial markets into turmoil during that same period,” the Washington Post reported.
The number of open jobs rose to 7.39 million, up from 7.2 million in March, according to data released by the Bureau of Labor Statistics. The hiring rate, which has remained near longtime lows for months, also went up according to the report.
“The labor market is returning to more normal levels despite the uncertainty within the macro outlook,” said Jeffrey Roach, chief economist for LPL Financial, referring to the boost in job openings amid a cooldown in the jobs market.
Quits, an indicator of worker confidence in their ability to find another job, fell lower, falling by 150,000 to 3.2 million, reported CNBC. “With other signs, particularly sentiment data, showing that hiring is softening, economists expect job growth of 125,000, down from the 177,000 in April but still indicative of a solid labor market. The unemployment rate is expected to hold steady at 4.2%.”
According to the Post, employers added 139,000 jobs in May, “a solid showing amid economic uncertainty that has caused some employers to pause hiring.”
Earlier this week meanwhile, NACS Daily reported that consumer spending growth, which was already sluggish, slowed significantly in April as consumers waited to see how tariff-related uncertainty might play out. According to data from the Bureau of Economic Analysis, spending rose 0.2% in April, a drop from the 0.7% increase the month prior.