More workers were laid off in May as job openings increased
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In May, U.S. job openings increased to 8.1 million, despite the impact of higher interest rates. Layoffs rose to 1.65 million, while the number of Americans quitting their jobs remained unchanged. The U.S. economy has been resilient despite the Federal Reserve's campaign to raise interest rates. Job openings have been decreasing since March 2022. The economy grew at a slow pace of 1.4% from January to March 2024. The Labor Department is expected to report that employers added 190,000 jobs in June. High interest rates have helped bring inflation down closer to the Fed's target. Walmart has held talks to sell its shuttered medical clinics. The U.S. government will pay Moderna $176 million to develop a bird flu vaccine. Ken Griffin is skeptical about AI replacing jobs in the next 3 years. Gen Zers are disillusioned with the economy and think it's okay to commit fraud.

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https://fortune.com/2024/07/02/jolts-job-openings-layoffs-may/