JOLTS Day Graphs: May 2020 Report Edition
The quit rate rebounded slightly to 1.6% in May, but remains far below its high of 2.3% in February.
![Quits as a percent of total U.S. employment, 2001–2020](https://equitablegrowth.org/wp-content/uploads/2020/07/playfair-2020-07-07T100258.096-1080x762.png)
As state economies began re-opening, the vacancy yield increased, reflecting a series of 6.5 million new hires in May.
![U.S. total nonfarm hires per total nonfarm job openings, 2000–2020](https://equitablegrowth.org/wp-content/uploads/2020/07/Vacancy-yield-May-1080x762.png)
Despite an increase in job openings and a decrease in unemployment, there were still nearly four unemployed workers for every job opening in May.
![](https://equitablegrowth.org/wp-content/uploads/2020/07/playfair-2020-07-07T100816.251-1080x762.png)
The Beveridge Curve moved slightly back toward normal cyclical territory in May, as the job opening rate changed little and the unemployment rate decreased more significantly.
![The relationship between the U.S. unemployment rate and the job opening rate, 2001–2020](https://equitablegrowth.org/wp-content/uploads/2020/07/playfair-2020-07-07T101023.638-1080x921.png)