March data from the Job Openings and Labor Turnover Survey indicated a firming job market, with employers hiring 5.55 million people, a surge of 655,000 from February, raising the hires rate to 3.5%, its highest since May 2024. This reflects steady consumer and business demand even as firms leverage AI for productivity gains. Cyclical sectors like transportation, warehousing, utilities, professional services, and accommodation and food services saw significant hiring rate increases. The quits rate also rose slightly, with 125,000 more voluntary job departures, suggesting worker confidence. However, job openings declined by 56,000 and laydischarges increased by 153,000, while the ISM service employment index remained below 50 at 48 in April. The unemployment rate has stabilized between 4.3% and 4.5% for nine months, pointing to labor supply constraints as a factor in modest payroll growth.