In April, the number of job openings in the US unexpectedly rebounded, reflecting the overall resilience of the job market. However, economists warn that tariffs and uncertainties could impede job growth in the coming months. According to the latest Job Openings and Labor Turnover Survey (JOLTS) report released by the US Department of Labor (DOL) on Tuesday (3rd), job openings at the end of April increased by 191,000, reaching 7.391 million, surpassing market expectations of 7.1 million and the revised 7.2 million from March, indicating sustained demand in the job market.

The data also showed a decrease of 135,000 job openings in the accommodation and food services sector, as well as a reduction of 51,000 jobs in state and local government and education sectors. Conversely, the arts, entertainment, and recreation sectors saw an increase of 43,000 job openings, while mining and logging added 10,000 positions.

Overall, significant increases were observed in job openings within private sectors such as professional and business services and health care and social assistance, with federal job openings also on the rise, while local government and educational jobs displayed a downward trend. According to the data, hiring rose to 5.573 million, an increase of 169,000 and a new high in nearly a year, illustrating that companies are continuing to bolster their workforce.

However, layoffs also climbed to 1.786 million, marking the highest level since last October. The primary reason is that some industries are facing pressures from supply chain issues and tariff uncertainties, prompting companies to adjust their hiring strategies.

Economists note that while April's job openings rebounded, the pace of growth has gradually slowed compared to the previous year. Influenced by the tariff policies of the Trump administration, US importers and manufacturers face cost pressures and supply chain bottlenecks. Last week, the US Trade Court had ruled to temporarily halt the enforcement of most tariffs, but the appeals court later restored some measures, exacerbating market uncertainties.

Some economists question the validity of JOLTS data, suggesting that the low response rate and frequent revisions necessitate cross-referencing with other employment indicators. Despite the robust job data, the number of voluntary resignations dropped to 3.194 million in April, reflecting a weakening confidence among workers regarding job changes and revealing potential risks lurking in the market.

Currently, the ratio of job openings to unemployed persons remains at 1.0, indicating a balance between supply and demand has not been disrupted, albeit significantly cooling from the 2-to-1 peak seen in 2022.

Market expectations point to the release of the May non-farm payroll report this Friday (6th), with the addition of jobs likely to slow to 130,000, down from April's 177,000. The unemployment rate is expected to stabilize at 4.2%, but the risks lean toward rising to 4.3%. Analysts believe changes in the job market will be a key indicator for the Federal Reserve in assessing monetary policy.