Job openings fell to 9.82 million at the end of May, dropping from an upwardly revised 10.3 million in April, according to the BLS’ latest Job Openings and Labor Turnover Survey report. Economists had projected that openings fell to 9.935 million for May, according to Refinitiv. The May JOLTS data showed that the number of new hires rose to 6.21 million from 6.1 million, quits jumped up to 4.02 million from 3.77 million and layoffs dipped to 1.56 million from 1.59 million. With quits popping back up above 4 million for the first time since December, workers continue to have leverage in this job market, she added. “In the JOLTS report, we have never seen layoffs spread across the whole economy in the last six months.

Source: CNN July 06, 2023 16:05 UTC