Published: 2024-07-02T14:18:30.000Z
U.S. May JOLTS report - Openings correct higher after two straight declines
Senior Economist , North America
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May’s JOLTS report is stronger than expected with openings up by 221k to 8.14m though the rise needs to be seen alongside two straight declines of over 400k in March and April. Trend is gradually weakening, but the labor market remains strong.
Elsewhere turnover appears modest. Hirings rose by 141k after two straight declines while separations with a rise of 85k and quits with a rise of 7k were little changed. The difference between hires and separations however at 334k, from 278k in April, was the highest since December, and that hints that May’s non-farm payroll could be revised higher.
