By ~ calculated risk July 2, 2024 10:00:00 AM
From BLS: Summary of job postings and labor turnover rates
The number of job postings on the last business day of May remained unchanged at 8.1 millionThe U.S. Bureau of Labor Statistics reported today that the number of people employed this month and the total number of job changes were little changed, at 5.8 million and 5.4 million, respectively. Within the number of job changes, there were little changes in the number of resignations (3.5 million) and layoffs and layoffs (1.7 million).
Emphasis added
The following graph shows JOLTS job openings (black line), new hires (dark blue), layoffs, retirements, and other (red columns), and resignations (light blue columns).
The series began in December 2000.
Note: The JOLTS hiring and firing numbers are similar to the CES (Compensation Survey) net jobs headline number. This report is for May, and this Friday’s employment report is for June.
Click on the graph to view a larger image.
Employment (dark blue) and total job losses (stacked red and light blue columns) are generally very close together each month. This is a measure of labor market turnover. When the blue line is above the two stacked columns, the economy is adding net jobs, and when it is below the columns, the economy is losing jobs.
The surge in layoffs and layoffs in March 2020 is shown, but has been excluded from the chart to better show the general data.
The number of jobs created in May increased to 8.14 million from 7.92 million in April.
The number of job postings (in black and white) decreased by 13% compared to the previous year.
Quitting is down 14% year-over-year. This is voluntary separation. (See the trend for “quitting” in the light blue column at the bottom of the graph.)
