Job openings surged for pro/business services. Hard to say immediately if its AI-driven, that will require more time. Also unsurprising that actual hires weren't up - it takes time to fill those specialized roles. overall, positive news.
What if AI is actually creating more jobs than it is replacing?
The latest JOLTs data showed that US job openings surged by a massive 731,000 jobs in April.
Markets were expecting no change, resulting in the largest beat in JOLTs history.
As a result, available employment hit 7.6 million for the month, the highest since May 2024.
And, job openings in the professional and business services sector surged by a massive 668,000.
The labor market's bull case from AI is underpriced.