The Bureau of Labor Statistics most recent Job Openings and Labor Turnover Survey shows that openings dipped during the month of May, but still outpaced the number of job seekers.  Â
Job openings came to 11.25 million in May, a dip from the 11.68 million seen in April. Additionally, job vacancies dropped to 6.9% from 7.2% during the same period.Â
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Quit rates also took a slight dip, with 4.27 million workers leaving their jobs during May. However, layoffs slightly increased to 1.39 million after hitting a low in April.Â
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Simultaneously, hiring rates slightly fell to 6.49 million as companies come to terms with an incoming recession and record-high inflation.Â
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Source:
CNBC
