JOLTS Day Graphs: May 2019 Report Edition

Every month the U.S. Bureau of Labor Statistics releases data on hiring, firing, and other labor market flows from the Job Openings and Labor Turnover Survey, better known as JOLTS. Today, the BLS released the latest data for May 2019. This report doesn’t get as much attention as the monthly Employment Situation Report, but it contains useful information about the state of the U.S. labor market. Below are a few key graphs using data from the report.

1.

The quit rate has remained at 2.3% for one year, with workers voluntarily leaving jobs at a healthy rate.

2.

Hires declined by 266,000 in May, reflecting the lower level of payroll employment growth in the May Jobs Report.

3.

The ratio of unemployed workers to job openings remains less than one, with a low level unemployment potentially lending more bargaining power to workers seeking new jobs.

4.

The Beveridge Curve moved down slightly in May, but remains in an expansionary phase.

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