2023-05-31 16:01:00
Vacancies offered by employers in USA unexpectedly rose in April to the highest level in three months, suggesting that demand for workers remains strong despite difficult economic conditions.
The number of available positions increased to 10.1 million from an upwardly revised figure of 9.75 million in Marchshowed on Wednesday the survey on job vacancies and job rotation, or JOLTS, from the Department of Labor. The figure exceeded all estimates of a survey of economists conducted by Bloomberg, which foresaw 9.4 million vacancies.
The advance was led by retail, healthcare, and transportation and warehousing. Openings fell in accommodation and food services, business services and manufacturing.
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Demand for labor has remained largely robust, even though tighter financial conditions have forced some employers stop hiring. Although the job cuts that began in the administrative sectors, including technology and banking are beginning to spread to other industries, some companies are still struggling to find workers.
The two-year Treasury yield soared following the report, erasing earlier dips as traders weighed the interest rate outlook higher by the Federal Reserve. The S&P 500 was little changed and the dollar rose.
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