The U.S. Bureau of Labor and Statistics has released its Job Openings and Labor Turnover Survey (JOLTS) for April, showing 7.39 million job openings, up from 7.19 million in March. April’s reading came above the expectation for 7.10 million.
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More available jobs signal a strong job market, which in turn boosts consumer confidence and spending. That increases corporate profits and economic growth, which are two factors that help buoy the stock market.
April Job Openings Surprise to the Upside
During the month, accommodation, food services, education and state and local government job openings fell, while arts, entertainment, recreation, and mining and lodging job openings increased.
The higher-than-expected job openings reading in April comes despite economic uncertainty surrounding the Trump administrations global tariffs, which threaten to disrupt supply chains and increase prices.
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