The number of job openings decreased to 10.7 million on the last business day of June, the U.S. Bureau of Labor Statistics reported today. Hires and total separations were little changed at 6.4 million and 5.9 million, respectively.…
Source: U.S. Bureau of Labor Statistics2 min read
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The number of job openings decreased to 10.7 million on the last business day of June, the U.S. Bureau of Labor Statistics reported today. Hires and total separations were little changed at 6.4 million and 5.9 million, respectively. Within separations, quits (4.2 million) and layoffs and discharges (1.3 million) were little changed. 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
On the last business day of June, the number and rate of job openings decreased to 10.7 million (-605,000) and 6.6 percent, respectively. The largest decreases in job openings were in retail trade (-343,000), wholesale trade (-82,000), and in state and local government education (-62,000). (See table 1.)
Hires
In June, the number and rate of hires were little changed at 6.4 million and 4.2 percent, respectively. Hires were little changed in all industries. (See table 2.)
Separations
Total separations includes 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 includes separations due to retirement, death, disability, and transfers to other locations of the same firm.
In June, the number and rate of total separations were little changed at 5.9 million and 3.9 percent, respectively. Total separations were little changed in all industries. (See table 3.)
In June, the number of quits was little changed at 4.2 million. The rate was unchanged at 2.8 percent. Quits decreased in construction (-51,000). Quits increased in state and local government education (+14,000). (See table 4.)
In June, the number of layoffs and discharges was little changed at 1.3 million. The rate was unchanged at 0.9 percent. Layoffs and discharges decreased in wholesale trade (-26,000), finance and insurance (-25,000), and in federal government (-4,000). (See table 5.)
The number of other separations was little changed in June at 367,000. Other separations decreased in real estate and rental and leasing (-9,000). Other separations increased in transportation, warehousing, and utilities (+9,000); durable goods manufacturing (+6,000); educational services (+3,000); and in federal government (+3,000). (See table 6.)
Establishment Size Class
In June, the job openings rate increased in establishments with 1,000 to 4,999 employees. The hires rate decreased in establishments with 1,000 to 4,999 employees and in establishments with 5,000 or more employees. For a more in-depth description of the JOLTS establishment size class estimates, please visit www.bls.gov/jlt/sizeclassmethodology.htm.
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MortgageRates.news analysis · Historical context
The mortgage market around this release
This original analysis is separate from the source article. It compares observed benchmarks around ; historical averages and yields are not current mortgage offers.
Separate job openings from hiring
JOLTS measures unfilled openings on the last business day of a month, while hires and separations cover the whole month. Openings are not new payroll jobs. Read vacancies alongside hiring, quits and layoffs, and distinguish counts from rates and revised estimates. These measures add detail about labor demand and turnover to the policy discussion. The benchmark window below describes borrowing conditions around publication; it cannot attribute a rate change to this report. BLS Job Openings and Labor Turnover Survey.
Nearest published observation on or before each target date
Calendar references, not an intraday reaction. A same-day market observation may have been published after a morning release. These figures do not show what was known at its exact publication time. One basis point (bp) is 0.01 percentage point; changes use the actual dated observations shown.
Dots show published observations only. Missing dates remain blank, with no interpolation. The series have different publication schedules and measure different markets.
What that benchmark difference would mean for a $300,000 loan
At the publication reference$1,665.91/month
5.30% · Jul 28, 2022
At the later reference$1,733.60/month
5.66% · Sep 1, 2022
The illustrative principal-and-interest payment is $67.69 higher per month. This holds the loan amount and term constant to show the arithmetic effect of the benchmark difference.
Assumptions: two separate hypothetical $300,000 loans, each fully amortizing over 30 years with 360 monthly payments and its stated fixed interest rate. Excludes points, lender fees, taxes, insurance, association charges and other costs. PMMS is a national average, not an APR or a personalized rate offer. These are not two payments on one existing loan.
Sources, historical coverage and calculation limits
Freddie Mac Primary Mortgage Market Survey®: available observations from Apr 2, 1971 through Nov 5, 2026. Cached history snapshot. History retrieved or verified Nov 11, 2026.
U.S. Department of the Treasury: available observations from Jan 4, 2016 through Nov 10, 2026. Cached history snapshot. History retrieved or verified Nov 11, 2026.
The 30-day comparisons use calendar days. Each cell selects the last published observation on or before its target; no rates are synthesized for missing dates. Gaps greater than seven days for daily Treasury data or fourteen days for weekly mortgage data are marked unavailable. Forward comparisons require the date to have arrived and source coverage to extend through it.
Historical files may contain revisions and do not reconstruct precisely what every market participant knew at the time. Freddie Mac changed its PMMS collection methodology in November 2022. Cross-period comparisons should account for that change. These windows include other news and cannot establish causation or forecast the next rate move.