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Key points:
There were 7.8 million job openings nationwide in May, and openings have increased in each of the past two months, according to the Bureau of Labor Statistics. The quits rate rose slightly to 2.1% in May. The layoff rate was 1% in May, a historically low level.
Against all expectations, the number of US job openings has increased for two consecutive months, the first such streak since openings peaked in early 2022. While encouraging, two months hardly make a trend, and several economic headwinds remain in play, including ongoing tariff uncertainty, geopolitical volatility, and rapid policy