Hires Rose by Record 2.4 Million in May
Washington, DC, July 7, 2020-The number of hires increased by 2.4 million to a series high of 6.5 million in May, the U.S. Bureau of Labor Statistics reported. This was the largest monthly increase of hires since the series began.
Total separations decreased by 5.8 million to 4.1 million, the single largest decrease since the series began. Within separations, the quits rate rose to 1.6% while the layoffs and discharges rate fell to 1.4%.
Job openings increased to 5.4 million on the last business day of May. These improvements
in the labor market reflected a limited resumption of economic activity that had been curtailed in March and April due to the coronavirus (COVID-19) pandemic and efforts to contain it.