Key Points:
- Job openings rose to 7.8 million in May, above consensus of 7.3 million, after April was revised up by 4,000 to 7.4 million.
- The number of job openings increased in accommodation and food services (+314,000) and in finance and insurance (+91,000). The number of job openings decreased in federal government (39,000).
- The U.S. added 139,000 jobs in May but there were 7.2 million people unemployed.
- The number of job openings for April was revised up by 4,000 to 7.4 million, the number of hires was revised up by 42,000 to 5.6 million, and the number of total separations was revised up by 25,000 to 5.3 million. Within separations, the number of quits was revised up by 21,000 to 3.2 million, and the number of layoffs and discharges was revised up by 3,000 to 1.8 million.
- In May, the number and rate of hires were little changed at 5.5 million. The number of hires decreased in federal government (-11,000).
- The number of total separations in May was little changed at 5.2 million. Total separations decreased in finance and insurance (-42,000).
- Within separations, quits (3.3 million) and layoffs and discharges (1.6 million) changed little.
- Layoffs and discharges decreased in finance and insurance (-47,000).
- The labor force participation rate decreased by 0.2% over the month to 62.4%.
- The Right Facts will continue to monitor unemployment and job openings.