Job Openings Still Remain at Levels Consistent With Tight Labor Market Conditions

Staffing Industry Analysts (08/01/23)

Job openings in June were at their lowest level since April 2021, according to seasonally adjusted data released Aug. 1 by the US Bureau of Labor Statistics. US job openings edged down by 34,000 in June from May to approximately 9.58 million.

However, Reuters noted job openings still remain at levels consistent with tight labor market conditions despite hefty interest rate increases from the Federal Reserve to dampen demand.

The largest decreases in job openings occurred in transportation, warehousing, and utilities, down by 78,000; state and local government education, down by 29,000; and federal government, down by 21,000.

On the flip side, job openings increased by 136,000 in healthcare and social assistance and by 62,000 in state and local government, excluding education.

Looking at separations, both quits and the number of layoffs and discharges declined. Total separations decreased to about 5.6 million in June.

Quits, representing voluntary separations initiated by the employee, fell by 295,000 in June to approximately 3.8 million.

Meanwhile, the number of layoffs and discharges decreased in June by 19,000 from the previous month to nearly 1.5 million.

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