The Bureau of Labor Statistics released a report today showing that employers eliminated over 600,000 jobs in the month of June. The Bur...
The Bureau of Labor Statistics released a report today showing that employers eliminated over 600,000 jobs in the month of June.
The Bureau of Labor Statistics (BLS) reported this morning:
The number of job openings decreased to 10.7 million on the last business day of June, the U.S. Bureau of Labor Statistics reported today. Hires and total separations were little changed at 6.4 million and 5.9 million, respectively. Within separations, quits (4.2 million) and layoffs and discharges (1.3 million) were little changed. 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.
Job Openings
On the last business day of June, the number and rate of job openings decreased to 10.7 million
(-605,000) and 6.6 percent, respectively. The largest decreases in job openings were in retail trade (-343,000), wholesale trade (-82,000), and in state and local government education (-62,000).Hires
In June, the number and rate of hires were little changed at 6.4 million and 4.2 percent, respectively. Hires were little changed in all industries.
The Conservative Treehouse reported on these numbers, noting that the difference between May and June was related to the loss of new jobs.
The Bureau of Labor Statistics (BLS) produces a monthly report of available job openings. The Job Openings and Labor Turnover Summary (JOLTS report) shows the number of available jobs at a captured moment in time. This JOLTS report [DATA HERE] is a summary of the last day in June.
As you can see within modified Table-1, the number of available jobs dropped by 605,000 in this report.
You can see below that the number of new jobs has decreased by over 600,000 jobs since the end of May. This is the absolutely wrong direction for the economy to be moving. Without new jobs, there are fewer people working, more people on government subsidies, costing taxpayers billions, and fewer people purchasing things.
Below is the BLS report showing the decrease in jobs.
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