U.S. job openings rose slightly to 8.1 million in May despite the impact of higher interest rates intended to cool the labor market. Vacancies rose from a revised 7.9 million in April, the first reading below 8 million since February 2021,

U.S. job openings rose in May after posting outsized declines in the prior two months, but the trend remained consistent with an easing in labor market conditions that could pave the way for the Federal Reserve to cut interest rates this year.

Job openings rose to 8.14 million in the month of May, according to the latest JOLTS data (Job Openings and Labor Turnover Survey) from the US Bureau of Labor Statistics, outpacing economist expectations of nearly 7.