Research >> Economics
Job Openings decreased to 10.7 million in June 2022
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The number of job openings decreased to 10.7 million on the last business day of June, the U.S. Bureau of Labor Statistics reported today. Hires and total separations were little changed at 6.4 million and 5.9 million, respectively. Within separations, quits (4.2 million) and layoffs and discharges (1.3 million) were little changed. This release includes estimates of the number and rate of job openings, hires, and separations for the total nonfarm sector, by industry, and by establishment size class.
Job Openings
On the last business day of June, the number and rate of job openings decreased to 10.7 million (-605,000) and 6.6 percent, respectively. The largest decreases in job openings were in retail trade (-343,000), wholesale trade (-82,000), and in state and local government education (-62,000).
Hires
In June, the number and rate of hires were little changed at 6.4 million and 4.2 percent, respectively. Hires were little changed in all industries.
Separations
Total separations includes quits, layoffs and discharges, and other separations. Quits are generally voluntary separations initiated by the employee. Therefore, the quits rate can serve as a measure of workers’ willingness or ability to leave jobs. Layoffs and discharges are involuntary separations initiated by the employer. Other separations includes separations due to retirement, death, disability, and transfers to other locations of the same firm.
In June, the number and rate of total separations were little changed at 5.9 million and 3.9 percent, respectively. Total separations were little changed in all industries.
In June, the number of quits was little changed at 4.2 million. The rate was unchanged at 2.8 percent. Quits decreased in construction (-51,000). Quits increased in state and local government education (+14,000).
In June, the number of layoffs and discharges was little changed at 1.3 million. The rate was unchanged at 0.9 percent. Layoffs and discharges decreased in wholesale trade (-26,000), finance and insurance (-25,000), and in federal government (-4,000).
The number of other separations was little changed in June at 367,000. Other separations decreased in real estate and rental and leasing (-9,000). Other separations increased in transportation, warehousing, and utilities (+9,000); durable goods manufacturing (+6,000); educational services (+3,000); and in federal government (+3,000).
Establishment Size Class
In June, the job openings rate increased in establishments with 1,000 to 4,999 employees. The hires rate decreased in establishments with 1,000 to 4,999 employees and in establishments with 5,000 or more employees. For a more in-depth description of the JOLTS establishment size class estimates, please visit www.bls.gov/jlt/sizeclassmethodology.htm.
Posted: August 2, 2022 Tuesday 10:00 AM