Jobs report released today: Where the jobs are
The number of job openings decreased to 10.7 million on the last business day of June, the U.S. Bureau
of Labor Statistics reported today. Hires and total separations were little changed at 6.4 million and 5.9
million, respectively. Within separations, quits (4.2 million) and layoffs and discharges (1.3 million)
were little changed. This release includes estimates of the number and rate of job openings, hires, and
separations for the total nonfarm sector, by industry, and by establishment size class.
On the last business day of June, the number and rate of job openings decreased to 10.7 million
(-605,000) and 6.6 percent, respectively. The largest decreases in job openings were in retail trade
(-343,000), wholesale trade (-82,000), and in state and local government education (-62,000).
The highest increases in jobs were in social assistance and health care, then in business and professional services.
With almost 60,000 new jobs added, the leisure and hospitality sector had another solid month.
In June, the number and rate of hires were little changed at 6.4 million and 4.2 percent, respectively.
Hires were little changed in all industries.
Despite the steep reduction, there were still 1.8 unfilled positions for every worker that was available.
Additionally, the pace of hiring slowed throughout the month, falling 2 percent to 6.37 million, while the number of resignations, a measure of employee mobility and confidence, remained stable but well below record levels recorded earlier this year. Additionally, the number of separations decreased by 1.4 percent to 5.93 million.
Officials from the Federal Reserve regularly monitor the JOLTs data as they predict the future direction of the labor market and how it would affect interest rates. In an effort to slow the inflation that has reached its highest rate since November 1981, the Fed has raised interest rates four times this year for a total rise of 2.25 percentage points.
In June, nonfarm payrolls increased by 372,000 while the unemployment rate remained unchanged at 3.6 percent. The July statistics will be released on Friday, and according to experts surveyed by Dow Jones, a rise of 258,000 is expected.
Consumer Price Index (CPI):
+1.3% in Jun 2022News Release Historical Data
3.6% in Jun 2022News Release Historical Data
+372,000(p) in Jun 2022News Release Historical Data
Average Hourly Earnings:
+$0.10(p) in Jun 2022News Release Historical Data
Producer Price Index – Final Demand:
+1.1%(p) in Jun 2022News Release Historical Data
Employment Cost Index (ECI):
+1.3% in 2nd Qtr. of 2022News Release Historical Data
-7.3%(r) in 1st Qtr. of 2022News Release Historical Data
U.S. Import Price Index:
+0.2% in Jun 2022News Release Historical Data
U.S. Export Price Index:
+0.7% in Jun 2022