Quick review of JOLTS data

Somewhat old news because we're about to get May jobs data but still very relevant to look at, the April job openings count was 7.39mm, up about 200k m/o/m, above the estimate of 7.1mm and vs 7.48mm in February.

The hiring rate rose one tenth to 3.5% after four months of 3.4% prints. The quit rate though slipped one tenth to 2%.

Sector wise, there was a 100k opening increase in healthcare/social assistance, a pretty consistent sector with the aging population as we know. Also of note, there was a 27k person increase in Information job openings to the most since last October. Job openings rose in retail to a 3 month high. On the flip side, job openings fell for construction (very slightly), in manufacturing and in lodging by about 130k jobs. The Federal Govt saw a job opening increase of 13k after falling by the same amount in March.