Morning Business Report: The U.S. saw a spike in job openings in April
U.S. job openings rose unexpectedly in April. Employers posted 10.1 million job openings last month. That’s up from a revised 9.7 million in March, and the most since January. The resilience of the American labor market and complicating Federal Reserve efforts to fight inflation in a tight labor market means that companies have to pay more.
Dollar General shareholders passed a proposal to improve worker safety. The company is currently facing more than $21 million in fines from the Occupational Safety and Health Administration for safety hazards.
On the final trading day in May, stocks fell. Investors kept an eye on the federal debt ceiling debate in Washington.
The DOW had a losing month in May, but the NASDAQ soared nearly 6%.
Weddings are back in full force. That’s the good news. Here’s the bad news: engaged couples will pay more to get hitched in 2023. According to Zola, an online wedding planning site, the national average cost of a wedding this year is $29,000. Compared to last year, that’s up by $1,000. In some large U.S. cities, the cost is over $35,000.
A college professor is telling Gen Z that, if they want career success or love, they should never work from home. NYU professor Scott Galloway says that holding on to remote work, rather than returning to the office, could be holding workers back. Gen Z says that working outside the home is expensive. With the digital age in full swing, they feel older generations should embrace remote work.