Job Openings, Turnover Remains Ridiculously Low
The job openings rate in the U.S. remains low, at 2.4 percent in May, slightly down from 2.5 percent in April, the Bureau of Labor Statistics reported today. There were 4.7 unemployed people for every job opening.
Turnover, as expressed through the number of people quitting their jobs and the number of people hired, didn’t change at all over the month.
Turnover, or churn, is an important indicator of economic health. In essence, those who have jobs now are likely to keep them, while those out of jobs are likely to remain jobless.
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