More Job Openings, But Still Hard to Land a Job in the U.S.

Good news and bad news for American job seekers: There are more open jobs than there have been in two years — but actually getting hired is still tough.

According to new government data, job openings (the number of positions companies are advertising but haven't filled yet) rose slightly to 7.6 million in May. That's the highest level in two years.

To put this in perspective:

• Job openings peaked at a record 12.3 million in 2022.
• They then dropped to a low of 6.55 million just six months ago.
• Now they've climbed back up to 7.6 million.

So why is it still hard to get a job? Because openings going up doesn't mean companies are actually hiring. The number of new hires (people who actually got hired and started working) was 5.17 million in May — slightly lower than late last year.

Before the pandemic, around 6 million people were hired every month, and that figure even reached 6.9 million in late 2021. So today's hiring is noticeably weaker. Meanwhile, the number of Americans who say jobs are "hard to get" has climbed to its highest level since 2021.

Where the jobs are: New openings increased in several industries in May:

• Construction companies
• Manufacturers (factories)
• Hotels, restaurants, and recreation

Openings fell in healthcare, however.

One bright spot: layoffs (when companies let workers go) barely changed and remain close to a historic low. This means people who already have jobs are mostly keeping them.

The big picture: Businesses seem more confident about the economy — that's why they're posting more jobs. But they're being cautious about filling those positions. For job seekers, this creates a frustrating gap: plenty of listings, but slow actual hiring.

This is an AI-generated summary. Read the original article at: https://www.marketwatch.com/story/job-openings-rise-to-2-year-high-but-good-luck-actually-getting-one-5dddb3f6?mod=mw_rss_topstories