Jobs openings ticked up in July while hires remained above pre-pandemic levels
Below, EPI senior economist Elise Gould offers her initial insights on today’s release of the Job Openings and Labor Turnover Survey (JOLTS) for July. Read the full Twitter thread here.
The July data show mild reductions in hires and quits while layoffs hold steady. Hires remain above pre-pandemic levels as the labor market continues to expand. Layoffs remain low in historical terms. Elevated quits mean workers seeking (and finding) better opportunities. pic.twitter.com/4DSSBXsfUI
— Elise Gould (@eliselgould) August 30, 2022
Hiring continues to outpace quits in every major sector as workers seek and find new jobs. Churn remains highest in low-wage accommodation and food services. Wage growth in that sector (from other BLS data) suggests workers are finding better jobs when they quit. pic.twitter.com/89BBJgttne
— Elise Gould (@eliselgould) August 30, 2022
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