Employment vacancies also shot up, rising 8% amid a reopening from the coronavirus thanks largely to a jump in the hospitality industry
Hires surged to 6.5 million from the 4.05 million in April, and separations plunged nearly 60% to 4.14 million, the Labor Department reported Tuesday.Still, the month ended with four unemployed Americans for every job opening.
Waiters set up tables in front of a restaurant on a street on the first day of the phase two re-opening of businesses following the outbreak of the coronavirus disease in New York, on June 22, 2020.Hires showed their biggest monthly gain ever and separations posted their largest drop as Americans started going back to work in May, the Labor Department reported Tuesday.
Employment vacancies also shot up, rising 8% amid reopenings from the coronavirus shutdowns, thanks largely to a jump in the hospitality industry, according to the closely watched Job Openings and Labor Turnover Survey. Though it runs a month behind the more widely publicized nonfarm payrolls reading, the JOLTS report is a favorite gauge of Federal Reserve policymakers.
Openings totaled just shy of 5.4 million for the month, up from 5 million in April. Hires surged to 6.5 million from the 4.05 million in April, and separations plunged nearly 60% to 4.14 million. The layoffs rate tumbled from 5.9% in April down to 1.4%.
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