USA: Job Openings Above Expectations; Consumer Confidence Below Expectations; Labor Differential Declines Slightly

Research evidence excerpt

USA: Job Openings Above Expectations; Consumer Confidence Below Expectations; Labor Differential Declines Slightly

Economics Research

30 June 2026 | 11:08AM EDT

USA: Job Openings Above Expectations; Consumer Confidence Below

Expectations; Labor Differential Declines Slightly

BOTTOM LINE: Job openings increased slightly in May from a downwardly-revised Jan Hatzius

+1(212)902-0394 | jan.hatzius@gs.com

level in April, above expectations. After incorporating today’s JOLTS data, our Goldman Sachs & Co. LLC

estimate of the jobs-workers gap based on the JOLTS, Indeed, and LinkUp measures Alec Phillips

of job openings stands at 0.0mn in June (i.e., the number of job openings roughly +1(202)637-3746Goldman Sachs & Co.| alec.phillips@gs.comLLC

equals the number of unemployed workers), unchanged from May. The Conference David Mericle

Board consumer confidence index edged up by less than expected in June from a +1(212)357-2619david.mericle@gs.com|

downwardly-revised May reading. The slight improvement reflected an increase in Goldman Sachs & Co. LLC

Walkerthe expectations component that outweighed a decline in the present conditions Ronnie | +1(917)343-4543

component. The labor differential declined to a new low since 2021, and the survey’s ronnie.walker@gs.com Goldman Sachs & Co. LLC

measure of 12-month ahead inflation expectations declined to 6.0% but remained

Manuel Abecasis

well above its February level of 4.5%. +1(212)902-8357 |

manuel.abecasis@gs.com

Goldman Sachs & Co. LLC

US MAP:

Elsie Peng

+1(212)357-3137 | elsie.peng@gs.com

Consumer confidence -3 (3, -1) Goldman Sachs & Co. LLC

Pierfrancesco Mei

KEY NUMBERS: +1(212)902-8809 | pierfrancesco.mei@gs.com

JOLTS job openings 7,594k for May vs. GS 7,100k, median forecast 7,296k, prior Jessica Rindels