We’ve officially reached June, and April—chock-full of economic policy chaos thanks to on-and-off tariffs announcements—might feel like the distant past. But the latest Job Openings and Labor Turnover Survey (JOLTS) data from the Bureau of Labor Statistics is taking us back to that month. Despite concern from businesses, workers, and consumers over President Trump’s “liberation day” tariffs announcement and subsequent backtracking in April, hiring and labor demand remained fairly strong. Diving into the data. Employers had 7.4 million job openings posted at the end of April, an increase from an upwardly revised 7.2 million postings in March, and beating economists’ estimates of 7.1 million according to one Bloomberg survey. Meanwhile, total hires in April increased to 5.6 million, up nearly 170,000 from March. During that same period, quits fell to around 3.2 million in April, down around 150,000 in March, and down 220,000 year over year. Additionally, the number of layoffs and discharges rose by around 200,000 month over month to 1.8 million in April, reversing a similarly sized drop from the previous month. For more on this latest JOLTS data and what it means for employers, keep reading here.—PM |