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- The previous month was revised to 7.919 million from the previously reported 8.059 million.
- The number of JOLTs job openings rose to 8.140 million, above the estimate of 7.910 million.
- Vacancy rate 4.9% vs. 4.8% last month.
- Resignation rate 2.2% vs 2.2% last month
Details of available job opportunities:
- Job openings on last business day of May: 8.1 million (small change)
- Year-on-year job losses: 1.2 million
- Job vacancy rate in May: 4.9% (small change)
- Decrease in job opportunities:
- Accommodation and food services: -147,000
- Special Education Services: -34000
- Increase in job opportunities:
- State and local government, excluding education: +117,000
- Durable goods manufacturing: +97,000
- Federal Government: +37000
Employment details:
- Number of appointments in May: 5.8 million (small change)
- Year-on-year decrease in employment: 415,000
- Employment rate in May: 3.6% (small change)
Breakup details:
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Total separations in May:
- Number: 5.4 million (slight change)
- Year-on-year decrease: 424,000
- Rate: 3.4% (unchanged)
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Resignation in May:
- Number: 3.5 million (slight change)
- Year-on-year decrease: 550,000
- Rate: 2.2% (7th consecutive month)
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Layoffs and redundancies in May:
- Number: 1.7 million (slight change)
- Rate: 1.0% (unchanged)
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Other breakups in May:
- Number: 309000 (slight change)
The increase in job openings indicates some progress, but looking at the chart above, the recent trend is down. The data also dates back to May, which is a bit of a lag.
All the “vacancies” were for government jobs! The monthly increase in government vacancies was the second highest on record.
However, it was better than expected.
