Summary
- US job openings totaled 7.359 million in June, below the market forecast of 7.44 million.
- According to the US Labor Department's Job Openings and Labor Turnover Survey (JOLTS), June job openings fell by 178,000 from May's 7.537 million level.
- US job openings in June came in below both the forecast and the previous month's reading.
Forecast Trend Report by Period
US job openings fell short of market expectations in June.
The Bureau of Labor Statistics said in its Job Openings and Labor Turnover Survey, or JOLTS, released Aug. 4 that job openings totaled 7.359 million in June. That was below the market forecast of 7.44 million. The May figure was also revised down by 57,000 to 7.537 million from 7.594 million.
The job openings rate was 4.4%, little changed from the previous month. By industry, openings rose by 97,000 in transportation, warehousing and utilities and by 39,000 in the federal government.
Openings fell by 74,000 in wholesale trade. They also dropped by 55,000 in nondurable goods manufacturing and by 9,000 in mining and logging.
Hiring was unchanged at 5.3 million in June. The hiring rate held at 3.4%, while federal government hiring fell by 6,000.
Total separations were 5.4 million, and the separations rate was 3.4%. Within that total, quits stood at 3.2 million, with the quits rate unchanged at 2.0%. Quits are used as an indicator of workers' willingness to move to better jobs.
Layoffs and discharges totaled 1.8 million, with the rate unchanged at 1.1%. Other separations, including retirements, deaths and disabilities, came to 353,000.
"Job openings, hires, and total separations changed little in June," the Bureau of Labor Statistics said. The next JOLTS report, for July, is scheduled for Sept. 1.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.