Job opening data

The number of job openings in May (thus somewhat dated) totaled 8.14mm vs 7.92mm in April which was revised down from the initial print of 8.06mm. The estimate was for a read of 7.95mm.

Part of the upside was a jump in the demand for manufacturing workers (which doesn’t square with the employment component of the recent ISM’s, in addition to the pace of activity) while the demand for leisure/hospitality workers fell to the lowest since January 2021, right around when the vaccines started to get rolled out. At 922k, it’s also below the February 2020 figure of 945k.