Source: Economics Group of Wells Fargo Bank, N.A.
Summary
The May JOLTS reports adds to the evidence that the labor market is cooling from its recent red-hot state. Job openings fell by 427K in May, while layoffs picked up and the number of workers quitting their job fell for a second straight month. That said, openings and quits remain historically strong, signaling that while momentum in the labor market is downshifting, the jobs market is hardly falling apart. READ FULL ARTICLE>>