The quits rate and layoffs rate remained unchanged in May. While the number of available jobs in the US increased and the ratio of job openings to those who are unemployed fell, the quits rate and layoffs rate stayed consistent, indicating a stable labor market3.
In May, the number of job openings in the US unexpectedly increased to 8.14 million, according to the Bureau of Labor Statistics' Job Openings and Labor Turnover Survey (JOLTS) report2. This figure was higher than the downwardly revised 7.91 million in April and defied economists' expectations of a decrease to 7.91 million.
The job opening figure for April was 7.91 million, according to the Bureau of Labor Statistics' Job Openings and Labor Turnover Survey (JOLTS) report.