US Job Openings and Labor Turnover Summary for June

On Tuesday, the US Bureau of Labor Statistics (BLS) reported the results of its Job Openings and Labor Turnover Survey (JOLTS) for June. As of the last business day in June, the number of job openings was 8.2 million, unchanged from May’s revised level. However, the measure was down 941,000 year-over-year. The job openings rate held steady at 4.9%, also unchanged from May.

The number of hires was little changed at 5.3 million. Over the year, hires were down by 554,000. The hires rate was little changed at 3.4%.

The number of total separations changed little at 5.1 million. This measure was down by 544,000 over the year. The total separations rate was little changed at 3.2%.

The number of quits was little changed at 3.3 million but was down by 434,000 over the year. The quits rate was unchanged at 2.1%.

The number of layoffs and discharges changed little at 1.5 million, and the rate decreased to 0.9%.

The number of other separations was little changed at 314,000.

For establishments with 1 to 9 employees, the job openings rate, hires rate, and total separations rate changed little. For establishments with 5,000 or more employees, the layoffs and discharges rate decreased, while the job openings rate and total separations rate changed little. The hires rate was unchanged.

Revisions

The number of job openings for May was revised up by 90,000 to 8.2 million; the number of hires was revised down by 101,000 to 5.7 million; and the number of total separations was revised down by 25,000 to 5.4 million. Within separations, the number of quits was revised down by 56,000 to 3.4 million, and the number of layoffs and discharges was revised up by 24,000 to 1.7 million.