U.S. job openings surge 9.6 percent in June; hires decrease 7.0 percent
10.08.2020, 14:23

U.S. job openings surge 9.6 percent in June; hires decrease 7.0 percent

The Job Openings and Labor Turnover Survey (JOLTS) published by the Labor Department on Monday revealed a 9.6 percent m-o-m jump in the U.S. job openings in June after a revised 7.5 percent m-o-m surge in May (originally an 8.0 percent m-o-m climb).

According to the report, employers posted 5.889 million job openings in June compared to the May figure of 5.371 million (revised from 5.397 million in the original estimate) and economists’ expectations of 4.910 million. The job openings rate was 4.1 percent in June, up from an unrevised 3.9 percent in the prior month. The report showed that job openings rose in a number of industries with the largest increases in accommodation and food services (+198,000 jobs), other services (+69,000), and arts, entertainment, and recreation (+34,000), but decreased in construction (-70,000) and in state and local government education (-26,000).

Meanwhile, the number of hires fell by 7.0 percent m-o-m to 6.696 million in June from a revised 7.199 million in May. This was the second-highest level in series history (the series high occurred in May 2020). The hiring rate decreased to 4.9 percent in June from a revised 5.4 percent in May. The hires level declined in a number of industries, with the largest fall in other services (-326,000), followed by health care and social assistance (-282,000), and construction (-181,000). These declines, however, were partially offset by increases in professional and business services (+255,000), accommodation and food services (+78,000), and state and local government, excluding education (+30,000).

The separation rate in June was 4.758 million or 3.5 percent, compared to 4.236 million or 3.2 percent in May. Within separations, the quits rate was 1.9 percent (+0.3 pp m-o-m), and the layoffs rate was 1.4 percent (flat pp m-o-m).

The changes in the labor market reflected a limited resumption of economic activity that had been curtailed in March and April due to the coronavirus pandemic and efforts to contain it, the report noted.

© 2000-2020. All rights reserved.

This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Feedback
Live Chat E-mail
Up
Choose your language / location