U.S. job openings were little changed in May at 7.59 million, marginally above
April's revised level, the Bureau of Labor Statistics said Tuesday; economists'
median forecast was 7.30 million. Wage growth has picked up recently. Openings
in professional and business services were essentially flat in May after
accounting for most of April's employment gains. Construction and leisure &
hospitality showed job gains, while openings in financial activities continued
to decline and have been the largest drag on employment growth this year. The
report reinforces other data signaling labor-market momentum. Price rises
during the Iran conflict have weighed on consumer confidence and tempered wages
growth, but have had limited impact on labor demand and consumer spending has
remained resilient.
