US Job Openings Surge to Nearly Two-Year High as Layoffs Ease

April’s JOLTS data reveals robust labor demand amid cautious hiring and mounting inflation pressures from the Iran conflict

In April 2026, U.S. job openings soared to approximately 7.6 million—the highest since mid‑2024—while layoffs and quits declined and hiring cooled. The mixed signals suggest a labor market that remains resilient but cautious, navigating rising energy costs and inflationary pressures linked to the Iran conflict.

A Surge in Openings, But Hiring Slows

April’s Job Openings and Labor Turnover Survey (JOLTS) showed job vacancies leapt to 7.6 million—an increase of 731,000 from March and the highest level since May 2024. The openings rate rose to 4.6% from 4.2%. However, hiring cooled sharply: hires dropped by 419,000 to 5.1 million, and the hiring rate fell to 3.2%. This divergence—strong demand but slower onboarding—reflects employers’ cautious stance amid uncertainty.

Layoffs and Quits Dip, Reflecting Cautious Confidence

The JOLTS report also showed layoffs and discharges declined by 192,000 to 1.692 million, with the layoffs rate falling to 1.1%. Quits likewise eased, signaling that workers remain somewhat confident in their job prospects even as they hold back on voluntary moves. This “low‑hire, low‑fire” pattern suggests stabilization—neither a boom nor a bust, but a labor market in a cautious equilibrium.