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