JOLTS Day Graphs: May 2022 Edition
Quits have tempered from their recovery peak, declining slightly to 2.8 percent in May, but remain well above pre-pandemic levels.
Job openings decreased to 11.3 million in May as total hires remained at 6.5 million over the month.
The ratio of unemployed workers-to-job openings increased slightly to 0.53 in May, potentially signifying a plateau of this rate following a rapid tightening of the labor market in the recovery.
The Beveridge Curve moved downward in May as openings declined and unemployment remained steady, but remains outside its typical cyclical range.
Job openings remain above pre-pandemic levels in most sectors, but openings decreased significantly in manufacturing in May.