The number of available jobs in the US unexpectedly grew in May, signaling continued resilience in the nation’s labor market. Job openings increased to 8.14 million in May, from 7.91 million in April, according to the latest Job Openings and Labor Turnover Survey (JOLTS) report. Economists had expected openings to fall to 7.91 million. May’s JOLTS report reflected a significant milestone for the US labor market: The ratio of job openings to those who are unemployed fell to 1.22 available jobs per job seeker, matching the figure seen in February 2020. Other measures of labor turnover showed continued stability in the jobs market. The number of hires moved up to 5.76 million from 5.62 million in April, layoffs and separations increased to 1.65 million in May from 1.54 million, and voluntary quits inched upward to 3.46 million from 3.45 million.
