HIRES SEE RECORD JUMP IN MAY WHILE JOB SEPARATIONS SEE LARGEST DECREASE

Jul 27, 2020

The number of hires jumped in May by 60.3%, the largest month-over-month increase on record, according to seasonally adjusted numbers released by the US Bureau of Labor Statistics. The accommodation and food services industry saw the greatest increase in hires with the number rising by 763,000 month over month.

Meanwhile, the number of separations in May fell 58.4% from April, the largest decrease on record. Among separations, the number of layoffs and discharges fell by 5.9 million in May to a total of 1.8 million. Quits, where an employee voluntarily leaves a company, rose by 190,000 in May to 2.1 million.

The improvements reflect a limited resumption of business activity following the shutdown prompted by the Covid-19 pandemic, the BLS noted.

Job openings also rose by 9.0% in May to nearly 5.4 million, but that was still down 26.1% compared to May 2019.

Source: Staffing Industry Analysts

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