Job Openings and Labor Turnover Hold Steady in June

The number of job openings was unchanged at 8.2 million for the month of June, compared to the previous month, according to the JOLTS report released today by the U.S. Bureau of Labor Statistics. The job openings rate held at 4.9%.

The number of hires held steady at 5.3 million in June but was down by more than 500,000 over the year. The hires rate, at 3.4%, was little changed from May's rate of 3.6%.

The number of people quitting in June—a measure of workers' confidence in their ability to leave one job for another—also was unchanged at 3.3 million. The quits rate was 2.1% in June, similar to previous months. Layoffs in June held at 1.5 million.

On Aug. 2, the U.S. Department of Labor will report on how many jobs the U.S. economy added in July, the unemployment rate, and wage gains for the month.

Takeaway for employers: The labor market is stabilizing, said Sydney Ross, SHRM junior economic researcher, though job opening numbers are still historically high and could indicate a persistent labor shortage.  

“This means that for employers, especially those in specialized industries struggling to fill open positions, they may continue to face those problems in the near term,” she said. “This competition for qualified workers between employers in similar industries is likely to promote continued wage growth. Employers will likely need to continue developing creative total rewards strategies in order to recruit talent and retain current workers.”

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