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🇺🇸 Vacancies hit a near two-year high, but nobody is actually hiring
The day in view

🇺🇸 Vacancies hit a near two-year high, but nobody is actually hiring

Macro Soup Newsroom Macro Soup Newsroom 3 min read

April job openings jumped to 7.618 million, the largest single-month gain since the 2021 reopening, while actual hires fell to 5.1 million. May's ADP print showed 122,000 private jobs added, beating forecasts but still well below the pace that marks genuine labor market expansion.

Line chart of ADP CHNG Index from 2021 to 2026 with recent rise to 122.0 on 05/31/26.
ADP private payrolls rose 122,000 in May, the strongest reading since January 2025. Source

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