The U.S. Bureau of Labor Statistics just released the June Job Openings and Labor Turnover (JOLT) Summary. The report provides the number of job openings, hires, and separations for the month.
At 9.6 million total job openings, there was little net change from the previous month though some industries were up while others were down. The number of hires slightly decreased to 5.9 million, down by 326,000 from May. The unemployment rate was 3.6 percent, compared with 3.7 percent in May.
On the separations side, fewer workers quit in June, while layoffs and discharges remained about the same. Although the quit rate suggests that employees are generally less inclined to leave their jobs, it is crucial to ensure that your organization is retaining employees and staying on the favorable side of the quit curve.
In this tight labor market, candidates are looking for companies that value diversity and inclusion. According to a survey conducted by Glassdoor, 67% of candidates consider a company's diversity and inclusion policies when making decisions about employment. By fostering a diverse and inclusive work environment, businesses can attract a larger pool of qualified applicants, retain their most talented employees, and remain proactive in reducing employee turnover.