Pace of workers quitting falls from record high
Job openings were little changed at 9.2M
The Chateau on the Lake owner Edward 'Buddy' Foy, Jr. discusses the challenges of finding employees
The number of Americans who quit their jobs in May fell off a record high as openings held near a record high.
The total number of quits declined to 3.6 million, according to the Labor Department’s Job Openings and Labor Turnover Survey, or JOLTS. Four million workers quit their jobs in April. Total separations fell to 5.3 million, a drop of 485,000 from the prior month.
Quits decreased across a number of industries with the biggest declines occurring in professional and business services (-181,000); transportation, warehousing, and utilities (-46,000); and durable goods manufacturing (-25,000). Both the Northeast and South regions saw a drop in the number of quits.
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This comes as the number of job openings held little changed at 9.2 million. Openings hit a record high of 9.286 million in April.
The job openings rate was unchanged at 6%.
Job openings grew in other services (+109,000), state and local government education (+46,000) and educational services (+35,000). There was a drop in the number of job openings in arts, entertainment, and recreation (-80,000); state and local government, excluding education (-56,000); and federal government (-17,000).
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The number of job openings was little changed in all four regions.