US labor market steadies as job openings fall and hires surge in March
Updated
Updated · Reuters · May 5
US labor market steadies as job openings fall and hires surge in March
5 articles · Updated · Reuters · May 5
Openings fell 56,000 to 6.866 million, while hires jumped 655,000 to 5.554 million, the highest since February 2024, according to Labor Department data.
Vacancies dropped mainly in professional and business services, layoffs rose 153,000 to 1.867 million, and economists said the figures support expectations the Federal Reserve will keep rates unchanged.
Separate data showed the March trade deficit widened 4.4% to $60.3 billion as AI-driven capital goods imports hit a record, though higher crude oil exports and new home sales offered some support.
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