U.S. job openings fall marginally in June

The Job Openings and Labor Turnover Survey (JOLTS) published by the Labor Department on Tuesday showed a slight drop (-0.5 percent m-o-m) in the U.S. job openings in June.

According to the report, employers posted 7.348 million job openings in June, compared to the May’s figure of 7.384 million (revised from 7.323 million in original estimate) and economists’ expectations of 7.317 million. The job openings rate was 4.6 percent in June, down from a revised 4.7 percent in the prior month. The report showed that the number of job openings was little changed for total private and for government. The job openings level rose in real estate and rental and leasing (+38,000 jobs in June) as well as state and local government education (+20,000).

Meanwhile, the number of hires declined to 5.702 million in June from 5.760 in May. The hiring rate was 3.8 percent, unchanged from May. The number of hires was little changed for total private and for government. Hires rose in accommodation and food services (+76,000).

The separation rate in June was at 5.481 million or 3.6 percent, compared to 5.557 million or 3.7 percent in May. Within separations, the quits rate was 2.3 percent (flat m-o-m), and the layoffs rate was 1.1 percent (-0.1 pp m-o-m).