The latest Jobs Report numbers I pulled off of the Bureau of Labor Statistics website. It would appear the FED has done its job in lowering inflation to the point the nation may slip into a recession. For the last couple of months this is what New Deal democrat has been reporting also. “In other words, if 2% inflation is a target and not a ceiling, the Fed need not wait any further before starting to trim interest rates lower.“ Latest Bureau of Labor Statistics July 30, 2024 – Jobs Report U.S. Bureau of Labor Statistics reported July 30, 2024 . . . the number of job openings was unchanged at 8.2 million on the last business day of June, the U.S. Over the month of June both the number of hires and total separations were little changed at 5.3
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Bill Haskell considers the following as important: Jobs Report July 2024, JOLTS, politics, US EConomics
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The latest Jobs Report numbers I pulled off of the Bureau of Labor Statistics website. It would appear the FED has done its job in lowering inflation to the point the nation may slip into a recession. For the last couple of months this is what New Deal democrat has been reporting also.
“In other words, if 2% inflation is a target and not a ceiling, the Fed need not wait any further before starting to trim interest rates lower.“
Latest Bureau of Labor Statistics July 30, 2024 – Jobs Report
U.S. Bureau of Labor Statistics reported July 30, 2024 . . . the number of job openings was unchanged at 8.2 million on the last business day of June, the U.S. Over the month of June both the number of hires and total separations were little changed at 5.3 million and 5.1 million. Separations, quits (3.3 million) and layoffs and discharges (1.5 million) changed little. 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.
Jobs Openings
The number of job openings was unchanged at 8.2 million and was down by 941,000 over the year. The job openings rate held at 4.9 percent in June. Job openings increased in accommodation and food services (+120,000) and in state and local government, excluding education (+94,000). The number of job openings decreased in durable goods manufacturing (-88,000) and in federal government (-62,000).
Hires
Number of hires was little changed at 5.3 million in June. However, it was down by 554,000 over the year. The hires rate, at 3.4 percent, changed little in June.
Separations
Separations include quits, layoffs and discharges, and other separations. Quits are generally voluntary separations initiated by the employee.
The number of total separations in June changed little at 5.1 million. This measure was down by 544,000 over the year. The total separations rate was little changed at 3.2 percent in June. Total separations decreased in state and local government education (-51,000) and in arts, entertainment, and recreation (-39,000).
In June, the number of quits was little changed at 3.3 million but was down by 434,000 over the year. The quits rate was unchanged at 2.1 percent in June. Quits decreased in construction (-64,000) and in state and local government education (-55,000).
In June, the number of layoffs and discharges changed little at 1.5 million, and the rate decreased to 0.9 percent. Layoffs and discharges decreased in finance and insurance (-26,000). The number of other separations was little changed in June at 314,000.
Establishment Size Class
In June, for establishments with 1 to 9 employees, the job openings rate, hires rate, and total separations rate changed little. For establishments with 5,000 or more employees, the layoffs and discharges rate decreased, while the job openings rate and total separations rate changed little. The hires rate was unchanged.
May 2024 Revisions
The number of job openings for May was revised up by 90,000 to 8.2 million, the number of hires was revised down by 101,000 to 5.7 million, and the number of total separations was revised down by 25,000 to 5.4 million. Within separations, the number of quits was revised down by 56,000 to 3.4 million, and the number of layoffs and discharges was revised up by 24,000 to 1.7 million.
July 30, 2024 Tables and Other data can be found at BLS News Release: Job Openings and Labor Turnover (JOLTS) June 2024.