JOLTs job openings 7.359M vs 7.400M estimate. Lower than last month.
- Prior month 7.537M
US JOLTS Report (June) – Key Takeaways
- Job openings were lower at 7.357 million vs 7.537M last month with the openings rate steady at 4.4%. The estimate was for 7.400M
- Job openings increased in:
- Transportation, warehousing & utilities: +97K
- Federal government: +39K
- Job openings declined in:
- Wholesale trade: -74K
- Nondurable goods manufacturing: -55K
- Mining & logging: -9K
Hiring
- Hires were unchanged at 5.3 million.
- Hiring rate held steady at 3.4%.
- Federal government hires fell by 6K.
Separations
- Total separations were little changed at 5.4 million.
- Total separation rate remained at 3.4%.
- Separation levels were essentially unchanged across all industries.
Quits
- Quits held steady at 3.2 million.
- Quits rate remained at 2.0%.
- Federal government quits declined by 4K.
Layoffs & Discharges
- Layoffs and discharges were unchanged at 1.8 million.
- Layoff/discharge rate stayed at 1.1%.
- Layoffs were little changed across all industries.
Other Separations
- Other separations (retirements, deaths, disabilities, transfers) were little changed at 353K.
Bottom line: The June JOLTS report points to a labor market that remains broadly stable. Job openings, hiring, quits, and layoffs all showed little change, suggesting labor demand and worker mobility continue to cool gradually rather than deteriorate sharply.
This article was written by Greg Michalowski at investinglive.com.