US job openings rose unexpectedly in April to 7.39 million from 7.20 million in March, according to Bloomberg. Private-sector job openings grew in professional services, business, health care, and social assistance. Openings declined in manufacturing, leisure, hospitality, and state and local education, while federal government vacancies increased. Layoffs also rose, and voluntary quits dropped, signaling reduced worker confidence. The ratio of job vacancies to unemployed workers remained at 1.0, matching pre-pandemic levels after peaking at 2 to 1 in 2022.
