JOLTS job opportunities drop in May
- Previous month revised 10.103M to 10.320M
- The number of job vacancies fell to 9.8 million on the last business day of May, a decrease of 496,000 from April.
- The employment rate decreased by 0.3 percentage point, to 5.9%.
- Medicare and social assistance saw the largest decline in employment (-285,000), followed by finance and insurance (-139,000), and other services (-78,000).
- Jobs increased in educational services (+45,000), state and local government education (+37,000), and federal government (+24,000).
- the The number and rate of appointments in May were mostly unchanged at 6.2 million and 4.0%, respectively. There was an increase in hiring in durable goods manufacturing (+41,000).
- the The number and rate of total terminations, including terminations, layoffs, and layoffsand other dismissals, changed little at 5.9 million and 3.8%, respectively.
- the The number of smoking cessations increased to 4.0 million (+250,000), the rate increased to 2.6%. Medicare and social assistance (+69,000) and construction (+57,000) saw an increase in quitting.
- The number of layoffs and layoffs held steady at 1.6 million, with the rate remaining at 1.0%. Retail saw an increase in layoffs and layoffs (+87,000).
- The number of other dismissals remained largely unchanged in May at 301,000.
A higher smoking cessation rate indicates a stronger job industry. People usually don’t quit their jobs when jobs are not available. However, overall job openings were below expectations, and last month’s level, balancing the report slightly.
It should also be noted the data for the month of May. So there is some punctuality or lack thereof in this report.
Stocks remain under pressure with the Nasdaq now down about 1.5%. The S&P fell -1.25% and the Dow Jones Industrial Average fell -1.22%.
The US dollar is moving higher.
