June Talent Market Stable

📊 June 2025 Employment Situation Report (BLS)

·        Nonfarm payrolls increased a seasonally adjusted 147,000 for the month, higher than the estimate for 110,000.  April and May job totals were revised up by 16,000.

·        Those getting jobs tilted strongly to full-time positions, which increased by 437,000. Part-time workers fell by 367,000

·        Healthcare (+39,000), Leisure & Hospitality (+20,000) led the way in terms of employment gains in June.  Government hiring was up (+73,000) largely due to seasonal hiring in education.  The Federal Government shed 7,000 jobs.

📈 May 2025 JOLTS Report

Job Openings Rate Steady: The BLS reported that job openings rose more than expected in May.  Notable gains in openings within accommodation & food services (+314 k), and finance & insurance (+91 k). Conversely, notable declines emerged in federal government openings (–39 k).

June Jobs Report

June’s labor market report landed a solid —but hardly sizzling— total of 147 000 new non‑farm jobs, topping the consensus of roughly 110 000. Yet that headline still trails the roughly quarter‑million monthly pace we saw a year ago, and it hovers right around the 12‑month average of 146 000. Economists figure the economy needs ≈ 180 000‑200 000 jobs a month just to keep up with labor‑force growth, so June’s gain, while better than feared, doesn’t move the needle much. The unemployment rate inched down to 4.1 %, but mostly because some workers stepped out of the labor market.

Under the hood, the story is one of cooling momentum. Wage growth was muted, up only  0.2 % on the month and 3.7 % year‑over‑year, the weakest pace since early 2022. Long‑term unemployment (27 weeks +) jumped 190 000 to 1.6 million, now 23 % of all jobless workers. On the bright side, the Bureau of Labor Statistics revised May’s temporary‑help services number from an initially reported 20 k drop to roughly -5.700, hinting at slightly firmer short‑term demand for staff. Even so, June’s private‑sector gains were the softest in eight months, and the temp‑help segment slipped again. Bottom line: the report beat the whisper number, but the trend line points to a labor market that’s cooling.

For a deeper dive….

·       A more encompassing measure of unemployment (U6) that includes discouraged workers and those holding part-time jobs for economic reasons remained at 7.7%.

·       Prime age labor force participation rate (ages 25-54) was up .1% 83.5%.

·       The overall labor force participation held was down by .1% to 62.3%.  This is 1.1% below the level of February 2020.

·       Average hourly earnings for all employees on private nonfarm payrolls rose by 8 cents, or 0.2 percent, to $36.30 in June. Over the past 12 months, average hourly earnings have increased by 3.7 percent. In June, average hourly earnings of private-sector production and nonsupervisory employees rose by 9 cents, or 0.3 percent, to $31.24.

·       The average workweek for all employees on private nonfarm payrolls edged down by 0.1 hour to 34.2 hours in June. In manufacturing, the average workweek held at 40.1 hours, and overtime was unchanged at 2.9 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls declined by 0.2 hour to 33.5 hours in June.

·       APD reported that 33,000 jobs were lost in June.

Source: ADP, BLS, CNBC, Fox News

https://www.bls.gov/news.release/archives/jolts_02092021.htm

https://www.bls.gov/news.release/empsit.nr0.htm

https://www.bls.gov/opub/mlr/2015/article/industry-employment-and-output-projections-to-2024.htm

JOB OPENINGS AND LABOR TURNOVER – MAY 2025

The number of job openings was little changed at 7.8 million in May, the U.S. Bureau of Labor Statistics reported today. Over the month, both hires and total separations were little changed at 5.5 million and 5.2 million, respectively. Within separations, quits (3.3 million) and layoffs and discharges (1.6 million) changed little.

This release includes estimates of the number and rate of job openings, hires, and separations for the total nonfarm sector, by industry, and by establishment size class. Job openings include all positions that are open on the last business day of the month. Hires and separations include all changes to the payroll during the entire month.

Job Openings

The number and rate of job openings were little changed at 7.8 million and 4.6 percent, respectively, in May. The number of job openings increased in accommodation and food services (+314,000) and in finance and insurance (+91,000). The number of job openings decreased in federal government (-39,000).

Hires

In May, the number and rate of hires were little changed at 5.5 million and 3.4 percent, respectively. The number of hires decreased in federal government (-11,000).

Separations

Total separations include quits, layoffs and discharges, and other separations. Quits are generally voluntary separations initiated by the employee. Therefore, the quits rate can serve as a measure of workers’ willingness or ability to leave jobs. Layoffs and discharges are involuntary separations initiated by the employer. Other separations include separations due to retirement, death, disability, and transfers to other locations of the same firm.

The number of total separations in May was little changed at 5.2 million. The total separations rate remained unchanged for the fifth month in a row at 3.3 percent. Total separations decreased in finance and insurance (-42,000).

In May, the number and rate of quits were little changed at 3.3 million and 2.1 percent, respectively. The number of quits was little changed in all industries in May.

In May, the number and rate of layoffs and discharges were little changed at 1.6 million and 1.0 percent, respectively. Layoffs and discharges decreased in finance and insurance (-47,000).

The number of other separations was little changed at 349,000 in May.

Establishment Size Class

In May, the layoffs and discharges rate decreased for establishments with 1 to 9 employees, while the job openings, hires, quits, and total separations rates showed little change. For establishments with 5,000 or more employees, all rates showed little or no change.

April 2025 Revisions

The number of job openings for April was revised up by 4,000 to 7.4 million, the number of hires was revised up by 42,000 to 5.6 million, and the number of total separations was revised up by 25,000 to 5.3 million. Within separations, the number of quits was revised up by 21,000 to 3.2 million, and the number of layoffs and discharges was revised up by 3,000 to 1.8 million. (Monthly revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors.)

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The Job Openings and Labor Turnover Survey estimates for June 2025 are scheduled to be released on Tuesday, July 29, 2025, at 10:00 a.m. (ET).