US 'quits' rate little changed in May

The number of people who voluntary left their jobs decreased in May but nevertheless remained near record lows, reflecting still strong job market conditions, although hiring did slip.

According to the US Bureau of Labor Statistics's JOLTS survey, the number of hires dropped by 266,000 in May to reach 5.7m, although the number of job openings was "little" changed, falling by 49,000 to 7.3m, with the job openings rate unchanged at 4.6% although, another sign of still demand for workers.

Similarly, total separations on the other hand, which includes quits or voluntary job changes, layoffs and discharges meanwhile also decreased, by 192,000 to 5.5m, but the number of quits was little changed at 3.4m, declining by 91,000, leaving the so-called 'quit rate' unchanged from the month before at 2.3%.

In May 2018 the quits rate had stood at 2.2%.