U.S. job openings slip by more than expected in April

Investing.com -- The number of job openings in the U.S. fell by more than anticipated in April, in a possible sign of waning labor demand ahead of the Federal Reserve's upcoming June policy meeting.

Job openings slipped to 8.059 million as of the last business day of the month, dropping from a downwardly revised total of 8.355 million in March, according to data from the Bureau of Labor Statistics. Economists had predicted a reading of 8.370 million.

The biggest decreases in job openings were in the health care and social assistance sectors, which offset an uptick in private education services.

Meanwhile, layoffs and "quits" -- seen as more reliable indicators of labor demand than the openings figure -- were little changed at 1.5 million and 3.5 million, respectively.

The Fed, which is widely tipped to keep interest rates on hold at more than two-decade highs next week, has previously targeted cooling the U.S. labor market as a major pillar of its ongoing push to corral inflation. In theory, an easing in demand for workers could relieve some upward pressure on wages and, by extension, price gains.

A closely-watched monthly nonfarm payrolls report on Friday may provide further insight into the state of the jobs market in the world's biggest economy.

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