This week: Job openings, services sector update, monthly employment tally

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The government on Tuesday reports the number of U.S. job openings in April

A look at some of the key business events and economic indicators upcoming this week:

Now hiring

The government on Tuesday reports the number of U.S. job openings in April.

Openings slipped in March, when employers posted close to 8.5 million vacancies. Analysts expect openings fell again in April. Job openings are down from a peak of 12.2 million in March 2022, but remain near all-time highs as the job market remains strong. Before 2021, they’d never topped 8 million.

Job openings, in millions, by month:

Nov.: 8.9

Dec.: 8.9

Jan.: 8.7

Feb.: 8.8

March: 8.5

April (est.): 8.4

Source: FactSet

Services sector update

The Institute for Supply Management issues its latest report on the U.S. service sector on Wednesday.

Economists expect the monthly index ticked up in May. The service sector employs most Americans and has withstood pressure from inflation and elevated interest rates. ISM’s services index is based on data from more than 370 purchasing and supply executives in dozens of industries.

ISM Services PMI (seasonally adjusted):

Dec. 50.5

Jan. 53.4

Feb. 52.6

March: 51.4

April: 49.4

May (est.): 50.9

Source: FactSet

Employment tracker

The Labor Department on Friday issues its monthly tally of hiring by nonfarm employers.

Economists predict employers added 180,000 jobs in May. In April, the job market softened. The labor market has proven more resilient in the face of high interest rates and elevated inflation than economists forecast. That's been good for workers and the economy, but has raised worries about lingering high inflation and interest rates.

Nonfarm payrolls, monthly change, seasonally adjusted:

Dec.: 290,000

Jan.: 256,000

Feb.: 236,000

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