US Job Openings Remain Strong at 7.6 Million in May

U.S. job openings unexpectedly held steady at 7.6 million in May, surpassing forecasts of 7 million and indicating a resilient labor market. Employers have been adding an average of nearly 114,000 jobs per month from January to May. However, another report indicates that job openings rose slightly to 7.594 million in May, accompanied by a decrease in hiring and a slight uptick in layoffs, suggesting a continued soft labor market. In June, U.S. consumer confidence saw a modest increase, largely attributed to falling gasoline prices. Despite the overall rise in confidence, consumers' perceptions of the labor market deteriorated. The number of households viewing jobs as hard to get reached its highest point in nearly 5-1/2 years.