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.
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.
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.
Simultaneously, hiring rates slightly fell to 6.49 million as companies come to terms with an incoming recession and record-high inflation.
Source:
CNBC
