The closely watched JOLTS report showed that listings fell to 9.82 million, down 496,000 from April.
There were about half a million fewer job openings in May than the previous month, providing at least a modest sign that the ultra-tight labor market could be loosening a bit, the Labor Department reported Thursday.showed that listings fell to 9.82 million, down 496,000 from April and below the 9.9 million consensus estimate from FactSet. Openings outnumbered the available labor pool by 1.6 to 1 for the month, a level that had been closer to 2 to 1 just a few months ago.
In a speech Thursday morning, Dallas Fed President Lorie Logan said she is concerned that inflation is not coming down rapidly enough and that more restrictive monetary policy will be necessary, particularly to address labor market imbalances.the ISM "The continuing outlook for above-target inflation and a stronger-than-expected labor market calls for more restrictive monetary policy," she added.
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