Job openings rise to 2-year high, but good luck actually getting one

By Jeffry Bartash

Number of Americans who say jobs are 'hard to get' climbs to highest level since 2021

A store advertises that they are hiring in Manhattan.

A prolonged decline in job openings in the U.S. appears to be over, but it doesn't mean businesses are ready to hire much more or make it easier for people to find work.

Job openings rose slightly to 7.6 million in May, staying at a two-year high, government statistics showed.

Just six months ago, openings had fallen to a postpandemic low of 6.55 million from a record 12.3 million in 2022.

That's the good news. The bad news? The number of people actually being hired hasn't improved.

New hires totaled 5.17 million in May - somewhat smaller compared with the end of last year.

Before the pandemic, some 6 million people were hired every month, with the number as high as 6.9 million in late 2021.

Key details: The surge in open jobs in the spring has been broad-based, suggesting businesses are more confident in the economy.

That could eventually translate into more new jobs. But so far, businesses have been cautious about actually filling open positions

In May, new openings rose among construction companies, manufacturers, hotels, restaurants and recreational providers. They fell in the healthcare sector.

Layoffs were little changed in May, but they are close to a historic low.

Big picture: The labor market bottomed out at the end of 2025, but companies aren't rushing to create new jobs.

A survey of consumer confidence released Tuesday showed that 22.5% of people said jobs were "hard to get," the highest level since the waning stages of the pandemic in early 2021.

Businesses are trying to contain costs after the conflict with Iran and the lingering effects of the Trump tariffs pushed inflation to a three-year high.

They want to be prepared to hire and grow, however, if the end of the conflict boosts the economy.

The Federal Reserve, for its part, is watching to see if a more stable labor market drives down the unemployment rate and raises wages - an outcome that could spur the central bank to raise interest rates.

Looking ahead: "While other labor market conditions have improved, the hiring rate remains depressed," said Grace Zwemmer, U.S. economist at Oxford Economics.

Market reaction: The Dow Jones Industrial Average DJIA and the S&P 500 SPX rose in Tuesday trades.

-Jeffry Bartash

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06-30-26 1149ET