Jobless Claims Rise in US, Layoffs Remain Stable

US job openings dipped to 9.8 million in May, down from 10.3 million in April, but remained at historically high levels, indicating resilience in the labour market. Despite the Federal Reserve's efforts to cool the market and slow the economy with higher interest rates, job openings remain elevated. Layoffs decreased slightly, and more Americans quit their jobs, suggesting confidence in finding better opportunities. Economic growth has slowed, and inflation has decreased but remains above the Fed's target. The strong job market has raised doubts about an impending recession, with employers adding a significant number of jobs each month and the unemployment rate near a half-century low.