US Job Openings Climb to 8.1 Million in May Despite High Interest Rates

Labor market shows resilience as job vacancies increase, but signs of cooling persist amid Federal Reserve's inflation control measures.

Job openings rose to 8.1 million in May, surpassing economists' expectations.
Layoffs increased to 1.65 million, while the quit rate remained steady at 2.2%.
The labor market remains strong with 1.25 jobs available per unemployed American.
Wage growth has slowed, with overall wage increases dropping to 4.9%.
Economists and Fed officials are closely monitoring labor market trends for potential rate cuts.