US Labor Market Turnover Rises in June, Quits at Year High

The US labor market showed signs of strengthening as turnover metrics—job openings, quits, and hires—rose in June, according to the Job Openings and Labor Turnover Survey (JOLTS) released by the Labor Department. Job openings dipped slightly to 7.36 million, still the third-highest since January 2024, while the three-month average climbed to 7.49 million, the highest since July 2024 and matching the prepandemic record in 2019. Voluntary quits increased by 79,000 to 3.23 million, the highest in a year, indicating growing worker confidence. Layoffs and discharges held steady at 1.77 million, down year-over-year by 77,000, and retirements and other separations rose to 353,000, with the 12-month average reaching 308,000. Hires increased by 96,000 to 5.35 million, though most filled slots left by separations. The data, based on a survey of 21,000 business locations, excludes internal moves and temporary workers. Notably, federal government retirements have contributed to the rise in separations, as the government has shed 324,000 workers since January 2025. The trends suggest a labor market that has bounced off a late 2025 low, with turnover increasing throughout the year.