From the BLS: Job Openings and Labor Turnover Summary
The number of job openings was little changed at 5.4 million on the last business day of May, the highest since the series began in December 2000, the U.S. Bureau of Labor Statistics reported today. The number of hires was unchanged at 5.0 million in May and the number of separations was little changed at 4.7 million. …
Quits are generally voluntary separations initiated by the employee. Therefore, the quits rate can serve as a measure of workers’ willingness or ability to leave jobs. … There were 2.7 million quits in May, unchanged from April.
The following graph shows job openings (yellow line), hires (dark blue), Layoff, Discharges and other (red column), and Quits (light blue column) from the JOLTS.
This series started in December 2000.
Chosen excerpts by Job Market Monitor. Read the whole story at Calculated Risk: BLS: Jobs Openings increased to 5.4 million in May, Highest on Record.
The Game Is Rigged Against Hardworking Americans | Economic Policy Institute
Evidence in today’s release corroborate last week’s jobs report, which continued to provide evidence that the economy is only at a slow jog, with meager wage growth and a falling labor force. There continues to be a significant gap between the number of job seekers and the number of job openings. The figure below illustrates the overall improvement in the economy over the last five years as the unemployment level continues to fall and job openings rise. A tighter economy (like the one shown in the initial year of data) would have these levels much closer together. It’s clear that there remains significant slack in the economy. Furthermore, on top of the 8+ million unemployed workers warming the bench, there are still about three million workers sitting in the stands with little hope to even get in the game.
Chosen excerpts by Job Market Monitor. Read the whole story at The Game Is Rigged Against Hardworking Americans | Economic Policy Institute.