Market news
07.07.2021, 14:16

U.S. job openings increase 0.2 percent in May; hires decline 1.4 percent

The Job Openings and Labor Turnover Survey (JOLTS) published by the Labor Department on Wednesday revealed a 0.2 percent m-o-m gain in the U.S. job openings in May after a revised 10.9 percent m-o-m climb in April (originally a 12.0 percent m-o-m jump).

According to the report, employers posted 9.209 million job openings in May compared to the April figure of 9.193 million (revised from 9.286 million in the original estimate) and economists’ expectations of 9.388 million. The job openings rate was 6.0 percent in May, unchanged from the previous month. The report showed that the job openings rose in other services (+109,000), state and local government education (+46,000), and educational services (+35,000), but fell in arts, entertainment, and recreation (-80,000); state and local government, excluding education (-56,000); and federal government (-17,000).

Meanwhile, the number of hires decreased 1.4 percent m-o-m to 5.927 million in May from a revised 6.012 million in April (originally 6.075 million). The hiring rate was 4.1 percent in May, slightly down from an unrevised 4.2 percent in the prior month. Hires went dropped in state and local government, excluding education (-56,000) and in federal government (-10,000).

The separation rate in May was 5.318 million or 3.7 percent, compared to 5.803 million or 4.0 percent in April. Within separations, the quits rate was 2.5 percent (-0.3 p.p. m-o-m), and the layoffs rate was 0.9 percent (-0.1 p.p. m-o-m).

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