Key Points:
- The number of available jobs since May 2021 continues to outnumber Americans looking for work.
- Job openings fell by 496,000 to 9.8 million in May, offsetting an increase of the same magnitude in the prior month.
- In May, job openings decreased in health care and social assistance (-285,000), finance and insurance (-139,000), and other services (-78,000).
- Job openings increased in educational services (+45,000), state and local government education (+37,000), and federal government (+24,000).
- The U.S. added 339,000 jobs in May but there were 6.1 million people unemployed, up from 5.7 million in April.
- In May, the number of hires and total separations were little changed at 6.2 million and 5.9 million, respectively.
- Within separations, the number of quits increased to 4.0 million, and layoffs and discharges changed little at 1.6 million.
- The number of quits increased in health care and social assistance (+69,000) and in construction (+57,000).
- Layoffs and discharges increased in retail trade (+87,000).
- The labor force participation rate was unchanged over the month at 62.6% in May and remains 0.7% below its February 2020 level.
- The Right Facts will continue to monitor unemployment and job openings.