US Job Openings Slip to 7.36M in June, Missing Forecasts
In June, the U.S. labor market had 7.36 million job openings, a decrease from the revised figure of 7.54 million in May, as reported by the Bureau of Labor Statistics (BLS). The number of layoffs held steady at 1.8 million, maintaining a rate of 1.1%. Significant declines in vacancies were seen in health care and social assistance (down 147,000), leisure and hospitality (down 86,000), wholesale trade (down 74,000), and professional and business services (down 71,000). However, transportation, warehousing, and utilities added 97,000 openings. Total hires increased to 5.35 million from 5.25 million in May, while the quits rate remained unchanged at 2.0%, totaling 3.2 million quits. The jobs report for July will be released on Friday, with the JOLTS report following on September 1.
Key facts
- 7.36 million job openings in June, down from revised 7.54 million in May
- Layoffs and discharges unchanged at 1.8 million (rate 1.1%)
- Health care and social assistance lost 147,000 vacancies
- Leisure and hospitality shed 86,000; wholesale trade fell 74,000; professional and business services fell 71,000
- Transportation, warehousing, and utilities added 97,000 openings; federal government postings climbed 39,000
- Total hires rose to 5.35 million from 5.25 million
- Quits rate flat at 2.0% (3.2 million quits)
- Openings-to-unemployed ratio near one-to-one
- May openings revised down by 57,000; hires revised up by 82,000
- July jobs report due Friday; July JOLTS report due September 1
Entities
Institutions
- Bureau of Labor Statistics
- High Frequency Economics
- Federal Reserve
Locations
- United States
Sources
- Quartz —