U.S. job openings unexpectedly rebounded in April, reflecting resilience in the overall job market, despite economists warning that tariffs and uncertainties could dampen employment growth in the coming months. According to the latest Job Openings and Labor Turnover Survey (JOLTS) report from the U.S. Department of Labor (DOL), the number of job openings at the end of April increased by 191,000 to 7.391 million, exceeding market expectations of 7.1 million and surpassing the revised figure of 7.2 million for March.

Data indicated that the job openings in the accommodation and food services sector decreased by 135,000, while job openings in state and local government and education sectors also fell by 51,000. However, the arts, entertainment, and recreation sectors saw an increase of 43,000 job openings, with mining and logging industries adding 10,000 positions.

Overall, jobs in professional and business services, healthcare, and social assistance sectors significantly increased, with federal government job openings also rising, while local government and educational institutions experienced a decreasing trend in job openings. The number of hires also rose by 169,000 to 5.573 million, marking the highest level in nearly a year and indicating that companies continue to replenish their workforce. However, layoffs also climbed to 1.786 million, the highest level since last October, primarily due to supply chain issues and tariff uncertainties affecting some industries, prompting companies to adjust their hiring strategies.

Economists pointed out that while job openings rebounded in April, the increase has gradually slowed compared to last year. Influenced by tariff policies from the Trump administration, U.S. importers and manufacturers are facing cost pressures and supply chain bottlenecks. Last week, a U.S. trade court ruled to temporarily suspend the enforcement of most tariffs, but a subsequent appellate court reinstated some measures, exacerbating market uncertainties. Some economists suggest that companies are struggling to plan under fluctuating import tariff policies, leading to more conservative hiring strategies.

Despite the strong demand indicated by job opening data, other indicators reveal hidden risks in the market. The number of voluntary quits in April dropped to 3.194 million, decreasing from the previous month, reflecting a waning confidence among workers in job transitions.
The ratio of job openings to unemployed persons remains at a level of 1.0, indicating that the overall supply and demand balance has not been disrupted, but it has noticeably cooled from a peak of 2 to 1 in 2022.

Markets broadly expect that the May nonfarm payroll report will be released this Friday (6th), with new job creation potentially slowing to 130,000, down from 177,000 in April, and the unemployment rate is anticipated to hold steady at 4.2%, while the risk may lean towards an increase to 4.3%. Analysts believe that changes in the job market will be a key indicator for the Federal Reserve in determining monetary policy.