JOLT job openings for May 8.140M vs 7.910M estimate

• Prior month revised to 7.919M from 8.059M previously reported
• JOLTs job openings moves higher to 8.140M which is higher than the 7.910M estimate.
• Vacancy rate 4.9% versus 4.8% last month.
• Quits rate 2.2% versus 2.2% last month

Details of the job openings:

• Job openings on the last business day of May: 8.1 million (little changed)
• Year-over-year decrease in job openings: 1.2 million
• Job openings rate in May: 4.9% (little changed)
• Decreases in job openings:
  • Accommodation and food services: -147,000
  • Private educational services: -34,000
• Increases in job openings:
  • State and local government, excluding education: +117,000
  • Durable goods manufacturing: +97,000
  • Federal government: +37,000

Hires details:

• Number of hires in May: 5.8 million (little changed)
• Year-over-year decrease in hires: 415,000
• Hires rate in May: 3.6% (little changed)

Separations details:

• Total separations in May:

  • Number: 5.4 million (little changed)
  • Year-over-year decrease: 424,000
  • Rate: 3.4% (unchanged)

• Quits in May:

  • Number: 3.5 million (little changed)
  • Year-over-year decrease: 550,000
  • Rate: 2.2% (seventh consecutive month)

• Layoffs and discharges in May:

  • Number: 1.7 million (little changed)
  • Rate: 1.0% (unchanged)

• Other separations in May:

  • Number: 309,000 (little changed)

This article was written by Greg Michalowski at www.forexlive.com.