US job openings in April exceeded market expectations, indicating sustained demand in the American labor market.
The US Department of Labor said Tuesday in its April Job Openings and Labor Turnover Survey (JOLTS) that job openings totaled 7.618 million. The figure topped the market forecast of 6.866 million and also exceeded the 6.86 million openings recorded in March. The March figure had likewise come in above the consensus estimate of 6.8 million compiled by Dow Jones.
With job openings exceeding market forecasts and hiring rising, the US labor market is maintaining an overall positive trend. The data is expected to reinforce the view that the Federal Reserve will not rush to cut interest rates.
