Key facts
- U.S. job openings were 7.6 million in May, exceeding the 7 million forecast.
- The labor market showed resilience despite economic shocks.
- Employers have averaged nearly 114,000 net job additions per month in 2026.
- Layoffs increased, and job quits saw a slight rise.
- The June jobs report is anticipated to show 100,000 jobs added and a 4.3% unemployment rate.
U.S. job openings remained surprisingly strong at 7.6 million in May, indicating continued resilience in the American labor market despite economic shocks from the Iran war. Forecasters had anticipated only 7 million openings. The data from the Bureau of Labor Statistics also showed an increase in layoffs and a slight uptick in job quits, a sign of worker confidence.
Despite soaring energy prices and high living costs following the conflict, the job market has remained sturdy. Employers have added an average of nearly 114,000 net jobs per month in the first five months of the year, a significant increase from the 9,700 average in 2025. High interest rates and President Donald Trump’s economic policies had previously discouraged hiring, but his tax cuts and the U.S. being an energy producer have mitigated some of the war's economic damage.
Looking ahead, the June jobs report is expected to show companies adding approximately 100,000 jobs, with the unemployment rate holding steady at a low 4.3%. Economists suggest that due to factors like baby boomer retirements and immigration policies, the hiring rate needed to maintain stable unemployment may have decreased.