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US job openings hold at a surprising 7.6M in May despite Iran war shock
AP News • • business
Key Points:
- U.S. job openings remained strong at 7.6 million in May, exceeding expectations and indicating resilience in the labor market despite economic pressures from the Iran war.
- Although job openings are high, actual hiring slowed slightly with gross hiring dropping to 5.17 million in May from 5.26 million in April, reflecting a labor market that is steady but not booming.
- Layoffs increased and quits rose only marginally in May, suggesting cautious confidence among workers amid ongoing economic uncertainty.
- The U.S. economy continues to add jobs steadily in 2026, averaging nearly 114,000 net jobs per month, a significant improvement from the weak hiring seen in 2025.
- Factors such as baby boomer retirements, immigration policies, and energy production have influenced labor market dynamics, potentially lowering the hiring rate needed to maintain stable unemployment at around 4.3%.
