Prior month 7.537M
US JOLTS Report (June) – Key Takeaways
Job openings were lower at 7.357 million vs 7.537M last month with the openings rate steady at 4.4%. The estimate was for 7.400MJob openings increased in:
Transportation, warehousing & utilities: +97K
Federal government: +39KJob openings declined in:
Wholesale trade: -74K
Nondurable goods manufacturing: -55K
Mining & logging: -9K
Hiring
Hires were unchanged at 5.3 million.
Hiring rate held steady at 3.4%.
Federal government hires fell by 6K.
Separations
Total separations were little changed at 5.4 million.
Total separation rate remained at 3.4%.
Separation levels were essentially unchanged across all industries.
Quits
Quits held steady at 3.2 million.
Quits rate remained at 2.0%.
Federal government quits declined by 4K.
Layoffs & Discharges
Layoffs and discharges were unchanged at 1.8 million.
Layoff/discharge rate stayed at 1.1%.
Layoffs were little changed across all industries.
Other Separations
Other separations (retirements, deaths, disabilities, transfers) were little changed at 353K.
Bottom line: The June JOLTS report points to a labor market that remains broadly stable. Job openings, hiring, quits, and layoffs all showed little change, suggesting labor demand and worker mobility continue to cool gradually rather than deteriorate sharply.
This article was written by Greg Michalowski at investinglive.com.