Hiring jumped sharply by 655,000 to 5.554 million, the highest since early 2024
US job openings slipped in March, but strong hiring showed the labor market is stabilizing.
Data from the Bureau of Labor Statistics showed vacancies fell by 56,000 to 6.866 million, slightly below forecasts of 6.835 million. The job openings rate eased to 4.1% from 4.2%, while the openings-to-unemployed ratio stood at 0.95.
Hiring jumped sharply by 655,000 to 5.554 million, the highest since early 2024.
Layoffs also increased by 153,000 to 1.867 million, pushing the rate to 1.2%.
Despite risks from geopolitical tensions and rising commodity prices, economists expect the Federal Reserve to keep interest rates steady at 3.5%–3.75%.
Overall, the data points to a resilient but cautious labor market recovery.