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  • U.S. job openings decrease 0.6 per cent in June, hires tumble 5.6 per cent, separations plunge 5.6 per cent
Ekonomické zprávy
30.07.2024

U.S. job openings decrease 0.6 per cent in June, hires tumble 5.6 per cent, separations plunge 5.6 per cent

The Job Openings and Labor Turnover Survey (JOLTS) released by the Labor Department on Tuesday showed a 0.6 per cent m-o-m decrease in the U.S. job openings in June after an upwardly revised 3.9 per cent m-o-m jump (from +2.8 per cent m-o-m) in May.

According to the report, employers posted 8.184 million job openings in June compared to the May reading of 8.230 million (revised from 8.140 million in last month’s report) and economists’ forecast of 8.000 million. The job openings rate came in at 4.9 per cent in June, unchanged compared to an unrevised 4.9 per cent in the previous month. The report showed that the largest advances in job openings occurred in accommodation and food services (+120,000) and state and local government, excluding education (+94,000). Meanwhile, the biggest decreases took place in durable goods manufacturing (-88,000) and federal government (-62,000).

At the same time, the number of hires tumbled by 5.6 per cent m-o-m to 5.341million in June compared to a downwardly revised 5.655 million (from 5.756 million) in May. This marked the lowest print since April 2020 (4.016 million). The hiring rate came in at 3.4 per cent,  down from an unrevised May reading of 3.6 per cent.

The separation rate was 5.095 million (or 3.2 per cent) in June, down 5.6 per cent from a downwardly revised May reading of 5.397 million (or 3.4 per cent). This marked the lowest reading since August 2020 (4.815 million). Within separations, the number of quits reached 3.282 million (-3.6 per cent m-o-m) and the number of layoffs reached 1.498 million (-10.7 per cent m-o-m). The quits rate was 2.1 per cent (flat m-o-m), and the layoffs rate was 0.9 per cent (-0.2 p.p. m-o-m).

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