The April JOLTS data confirms the softer labor market trend that began in the second half of 2024, but not enough to add to fears of an imminent recession that would spur the Federal Reserve to cut interest rates.

The number of job openings rose to 7.391 million (4.4 percent) in April, from an upwardly revised 7.200 million (4.3 percent) in March and compared to the expectation of 7.1 million in the Econoday survey of forecasters. Job openings are down by 228,000 compared to a year ago.

April hires were 5.573 million (3.5 percent), after 5.404 million (3.4 percent) in March, and were down by 11,000 compared to April 2024.

The number of total separations was 5.288 million (3.3 percent) in April, vs 5.183 million (3.3 percent) in March. Within separations, April quits were at 3.194 million (2.0 percent) after 3.344 million (2.1 percent) in March, while layoffs and discharges came in at 1.786 million (1.1 percent) following 1.590 million (1.0 percent) in March.

Job openings seen at 7.100 million rate in April after falling unexpectedly to 7.192 million in March from 7.480 million in February.

The Labor Department's JOLTS report tracks monthly change in job openings and offers rates on hiring and quits. The reporting period lags other employment data including the employment situation report. The word JOLTS stands for Job Openings and Labor Turnover Survey.

Although lagging the release timing of the employment situation report by a month, JOLTS provides additional information on the labor market. The payroll survey in the employment situation report provides numbers on net job changes. JOLTS breaks down labor market data into pre-net changes such as job openings, hires, and separations.