Job openings stayed at a surprisingly strong 7.6 million in May; U.S. labor market proves resilient

U.S. job openings remained at 7.6 million in May, exceeding forecasts of 7 million, as the labor market showed resilience despite economic shocks from the Iran war. Data from the Bureau of Labor Statistics indicated rising layoffs but only slight increases in job quits, with energy prices surging due to Iran's closure of the Strait of Hormuz. Employers added an average of 114,000 jobs monthly in early 2026, up from 9,700 in 2025, attributed to Trump's tax cuts and U.S. energy production.