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US job openings rise to 8.1 million despite higher interest rates

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U.S. job openings rose slightly to 8.1 million in May despite the impact of higher interest rates.

A hiring sign is displayed at a restaurant in Arlington Heights, Ill., Friday, June 28, 2024. On Tuesday, July 2, 2024, the Labor Department reports on job openings and labor turnover for May. impact of higher interest ratesVacancies rose from a revised 7.9 million in April, the first reading below 8 million since February 2021, the Labor Department reported Tuesday.

Fed policymakers welcome lower job openings — a relatively painless way to cool a hot job market and reduce pressure on companies to raise wages, which can feed inflation.

 

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