Job Openings Hit Two-Year High in May, Yet Consumer Confidence in Job Market Plunges

Macro
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U.S. job openings rose to 7.6 million in May, the highest since May 2024, according to the Bureau of Labor Statistics, while a Conference Board survey showed 22.5% of adults said jobs were hard to get, the most since January 2021. Employers hired 5.2 million people in May, the fewest since December, keeping the hiring rate depressed despite the uptick in openings. Economists noted that the low hiring rate has worsened consumers' perception of job availability, even as the labor market has rebounded from a 2025 tariff-driven slowdown. The contrasting data continue a trend of solid hard economic indicators alongside deep public pessimism about the job market.

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