Job openings rose to 8140k in May from a downwardly revised 7919k in April. This is above the 7946k that was expected. We use the Indeed job website’s total job postings numbers as a guide when we put our forecast for job openings together and as the chart below shows, the series tends to fluctuate around where Indeed’s numbers are. The trend remains one of shrinking vacancy numbers with the US economy tending towards pre-pandemic levels and likely hitting that point before the end of this year. The quits rate was the big warning signal of an impending spike in labour costs that ensured inflation took off in 2021 and ... (full story)