US Job Openings and Labor Turnover Summary for May

On Tuesday, the US Bureau of Labor Statistics (BLS) reported that the number of job openings was little changed in May at 7.6 million, with the job openings rate holding at 4.6%.

The number of hires was unchanged at 5.2 million, representing a 3.3% rate. Total separations changed little at 5.1 million (3.2%). Within separations, quits changed little at 3.1 million (1.9%), layoffs and discharges were unchanged at 1.7 million (1.1%), and other separations were unchanged at 328,000.

By establishment size, both small businesses (1–9 employees) and large employers (5,000 or more employees) showed little or no change in job openings, hires, and separations rates.

Monthly Revisions

Revisions to April estimates show job openings were revised down by 33,000 to 7.6 million. Hires were revised up by 99,000 to 5.2 million, while total separations were revised up by 60,000 to 5.0 million. Within separations, quits were revised up by 66,000 to 3.0 million, and layoffs and discharges were revised down by 25,000 to 1.7 million.