Vacancies at US employers fell in May but remained historically elevated, highlighting persistent demand for labor even as other sectors of the economy cool. 

The number of available positions fell to 9.8 million from an upwardly revised 10.3 million in April, the Labor Department's Job Openings and Labor Turnover Survey, or JOLTS, showed Thursday. The median estimate in a Bloomberg survey of economists called for 9.9 million openings.

Despite the decline -- which was the largest in three months -- the report showcases incessant appetite for workers. Openings remain well above pre-pandemic levels as many employers still struggle to attract and retain talent. And separate data Thursday showed layoff announcements fell in June to an eight-month low while private hiring surged.

The S&P 500 remained lower and Treasury yields were higher after the releases.

The drop was led by fewer postings for jobs in health care and social assistance. Other service sectors, including finance and insurance, also had less openings.

Source : Bloomberg