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The number of job openings on the last business day of May read 9.8 million according to the US Bureau of Labor Statistics. This reading followed 10.3 million openings in April (revised from 10.1 million) came in below the market expectation of 9.93 million.
“Over the month, the number of hires and total separations were little changed at 6.2 million and 5.9 million, respectively,” the BLS further noted in the publication. “Within separations, quits (4.0 million) increased, while layoffs and discharges (1.6 million) changed little.”
With 285,000, the largest decrease in job openings were recorded in health care and social assistance sectors. On the other hand, job openings in educational services and federal government rose 45,000 and 37,000, respectively.
The US Dollar Index extends its daily recovery following this data and was last seen posting small daily gains near 103.50.
Earlier in the day, the data published by Automatic Data Processing (ADP) showed private sector employment in the US rose 497,000 in June. This reading marked the largest one-month increase since February 2022 and surpassed the market expectation for an increase of 228,000 by a wide margin, triggering the US Dollar’s rebound.
Meanwhile, the ISM Services PMI improved to 53.9 in June from 50.3 in May. More importantly, the Employment Index rose 53.1 from 49.2, showing an increase in the service sector payrolls.
