The number of job openings in the U.S. in May declined slightly but remains higher than a year ago.
According to new federal data released this week, there were 11.2 million job openings in May, down from about 11.7 million in April. In May 2021, there were 9.6 million jobs open.
An unemployment rate of 3.6% means there is twice the number of openings compared to people collecting unemployment benefits. As of May 2022, there were 5.9 million Americans collecting unemployment benefits.
Although overall job openings declined in May, the leisure and hospitality industry continues to seek more employees. The number of openings increased by 72,000 to 1.57 million in May.
Overall workforce participation remains down by more than a million people from before the pandemic.
The data suggests the job market remains strong even though fears of a recession have grown. During the heart of the 2009 recession, there were six times more Americans seeking unemployment than job openings.