Job Openings and Labor Turnover Summary for July
Job Openings and Labor Turnover – July 2023
On Tuesday (8-29-23), the US Bureau of Labor Statistics (BLS) released its Job Openings and Labor Turnover Summary (JOLTS) for July. According to the report, as of the last business day in July, the number of job openings declined 338,000 to 8.8 million while the rate declined to 5.3% from 5.8%.
In July, the number of hires decreased to 5.8 million, down from 5.9 million in June, and the rate declined from 3.8% in June to 3.7% in July.
The total number and rate of separations decreased to 5.5 million, down from 5.6 million in June, and the rate declined from 3.6% in June to 3.5% in July.
The number and rate of quits declined by 253,000 to 3.5 million and a rate of 2.3% in July.
The number and rate of layoffs and discharges increased to 1.6 million from 1.5 million in June, and the rate held steady at 1.0%.
The number of other separations in July increased to 378,000, up from 339,000 in June.
In July, establishments with 1–9 employees saw little change in all data elements. Establishments with 5,000+ employees saw decreases in their quit and total separation rates.
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