Below, EPI senior economist Elise Gould offers her insights on today’s release of the Job Openings and Labor Turnover Survey (JOLTS) for June. Read the full thread here.

The job openings level was essentially unchanged in June but has been fairly consistent in falling toward “normal” since its peak in March 2022 when churn was high as employers scrambled to find workers after massive layoffs and many workers quit in search of better opportunities pic.twitter.com/bspD0cyWVS

— Elise Gould (@eliselgould) July 30, 2024

As with much economic data with increasingly concerning sample sizes, there is some month-to-month volatility, but the decline in layoffs is notable. Hiring has certainly slowed in recent months, but it’s significant that it has not been accompanied by an increase in layoffs. pic.twitter.com/QiwNywEbTs

— Elise Gould (@eliselgould) July 30, 2024