Job openings posted a modest rise in May, continuing their impressive run over the past year. Improvement in turnover has been more muted, evidenced by separations and hiring rates edging lower in May.
Job Openings Continue to Climb
- Job openings remained elevated in May; the number of vacancies at the end of the month edged up to 5.36 million after a slight downward revision to April. Total hiring over the month, however, fell back slightly to 5.00 million.
- The job openings rate has improved noticeably faster over the past year than the unemployment rate or number of gross hirings, suggesting it is taking longer to fill open positions.
Turnover Still Somewhat Muted
- Separations edged lower in May, driven primarily by fewer layoffs. Layoffs fell by 131,000 and look consistent with the continued low level of initial jobless claims.
- The number of workers quitting their job, viewed as a sign of confidence in the labor market, ticked down in May. Since the start of the year, the quit rate has been fairly steady at around 1.9 percent despite the increase in job openings.
Recommended Content
Editors’ Picks
EUR/USD holds gains above 1.0700, as key US data loom
EUR/USD holds gains above 1.0700 in the European session on Thursday. Renewed US Dollar weakness offsets the risk-off market environment, supporting the pair ahead of the key US GDP and PCE inflation data.
GBP/USD extends recovery above 1.2500, awaits US GDP data
GBP/USD is catching a fresh bid wave, rising above 1.2500 in European trading on Thursday. The US Dollar resumes its corrective downside, as traders resort to repositioning ahead of the high-impact US advance GDP data for the first quarter.
Gold price edges higher amid weaker USD and softer risk tone, focus remains on US GDP
Gold price (XAU/USD) attracts some dip-buying in the vicinity of the $2,300 mark on Thursday and for now, seems to have snapped a three-day losing streak, though the upside potential seems limited.
XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger
Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP.
US Q1 GDP Preview: Economic growth set to remain firm in, albeit easing from Q4
The United States Gross Domestic Product (GDP) is seen expanding at an annualized rate of 2.5% in Q1. The current resilience of the US economy bolsters the case for a soft landing.