A survey of the US Bureau of Labor Statistics revealed that job opportunities increased in the United States during the month of April, after three consecutive months of declines, in a possible indication of the continued tightness of the labor market that may affect the Fed’s decision on interest rates to curb high inflation.
The Department of Labor’s Monthly Job Opportunities Survey, also known as the “JOLTS” report, showed that job vacancies totaled 10.1 million on the last day of last month. This figure is higher than the revised figure of 9.75 million recorded in March and well above the forecast of 9.78 million.
Although the data is a month behind the Nonfarm Payrolls report, Fed officials usually watch it closely as they try to make a decision on rates.
Interest rate cells in America are between 5.00% to 5.25%, up from zero levels in March 2022.
