US job openings climbed to 7.62 million in April, marking the highest level in nearly two years and surpassing expectations. The increase was largely driven by professional and business services, while layoffs declined to 1.69 million, signalling continued labor market resilience despite pressures from rising energy costs linked to geopolitical tensions.
Hiring, however, eased to 5.12 million after a March surge, and the quits rate fell to 1.9%, indicating workers are less confident about switching jobs. Surveys also show growing caution among businesses and consumers, with fewer respondents viewing jobs as plentiful and small-business hiring plans remaining subdued due to persistent inflation concerns.
Overall, the data suggests labor demand is stabilizing after weak job growth in 2025, with the ratio of vacancies to unemployed workers steady at 1:1. The trend may complicate the case for Federal Reserve rate cuts, as policymakers weigh signs of resilience against lingering economic uncertainty ahead of the upcoming May jobs report.