Job openings in the United States reached 11 million in the last month of 2022, growing by close to 575,000 positions, a jump that surprised many experts, to reach a five-month high.

For every unemployed person in the United States, there were nearly 2 job openings, according to the latest Labor Department report. In particular, there were more than 400,000 open jobs in the food services and accommodation industry, which continues to lag its pre-pandemic staffing levels.

The labor market remains tight; however, the U.S. central bank still went ahead with a 25-basis-point increase of its policy rate, vowing more but smaller ongoing increases for borrowers. Wage growth was slow in the fourth quarter but could remain solid due to this latest report on job openings.

Other industries with notable openings include retail trade and construction. While some believe the latest report was a signal of a seasonal blip, others expect a challenging labor market for months to come.