Bureau of labor Statistics: JOB OPENINGS AND LABOR TURNOVER – JANUARY 2014

For release 10:00 a.m. (EDT) Tuesday, March 11, 2014        USDL-14-0389

Technical information: (202) 691-5870  •  JoltsInfo@bls.gov  •  www.bls.gov/jlt

Media contact:            (202) 691-5902  •  PressOffice@bls.gov

                    JOB OPENINGS AND LABOR TURNOVER – JANUARY 2014

There were 4.0 million job openings on the last business day of January, little changed from December, the U.S. Bureau of Labor Statistics reported today. The hires rate (3.3 percent) and separations rate (3.2 percent) were little changed in January. This release includes estimates of the number and rate of job openings, hires, and separations for the nonfarm sector by industry and by geographic region. The release also includes 2013 annual estimates for hires and separations. The annual levels for hires and quits increased in 2013 while the annual total for layoffs and discharges decreased.

Job Openings

There were 4.0 million job openings in January, little changed from December. The number of openings also was little changed in total private and government. The number of job openings decreased in retail trade; the number increased in health care and social assistance and in arts, entertainment, and recreation. The West region experienced a rise in job openings in January. (See table 1.)

The number of open, unfilled construction sector jobs increased 38% from 113,000 in January of 2013 to 156,000 in January of 2014, according to the BLS Job Openings and Labor Turnover Survey (JOLTS). The January count of open jobs in the sector is the second highest since May 2008.

Revisions to the JOLTS Data

Job openings, hires, and separations data have been revised from December 2000 forward to incorporate annual updates to the Current Employment Statistics employment estimates and the Job Openings and Labor Turnover Survey (JOLTS) seasonal adjustment factors. In addition, durable goods manufacturing and nondurable goods manufacturing data are now available on a seasonally adjusted basis. See the note at the end of this release for more information about these changes.

The number of job openings (not seasonally adjusted) increased over the year for total nonfarm and total private but decreased for government. Over the year, the number of job openings increased in several industries while it decreased in real estate and rental and leasing and in federal government. The Midwest and West regions experienced an increase in the number of job openings over the 12 months ending in January. (See table 7.)

Hires

There were 4.5 million hires in January, little changed from December. The number of hires was essentially unchanged for total private and government. The number of hires fell in January in retail trade and in the Midwest. (See table 2.)

Over the 12 months ending in January, the number of hires (not seasonally adjusted) changed little for total nonfarm, total private, and government. Hires levels rose over the year in professional and business services and in educational services. The number of hires was little changed in all four regions. (See table 8.)

Separations

Total separations includes quits, layoffs and discharges, and other separations. Total separations is referred to as turnover. 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, and disability, as well as transfers to other locations of the same firm.

There were 4.5 million total separations in January, little changed from December. The number of total separations was essentially unchanged for total private and government. (See table 3.)

In January, the quits rate was little changed at 1.7 percent for total nonfarm. The rate was little changed for total private (1.9 percent) and unchanged for government (0.6 percent). The quits rate was essentially unchanged over the month in all industries and in all four regions. (See table 4.)

The number of quits (not seasonally adjusted) was little changed over the 12 months ending in January for total nonfarm, total private, and government. The number of quits rose over the year in retail trade and professional and business services but fell in finance and insurance. The number of quits was essentially unchanged in all four regions over the year. (See table 10.)

The layoffs and discharges rate was little changed in January at 1.3 percent. The rate was unchanged over the month for total private (1.4 percent) and government (0.5 percent). The layoffs and discharges rate was little changed in all four regions. Seasonally adjusted estimates of layoffs and discharges are not available for individual industries. (See table 5.)

The layoffs and discharges level (not seasonally adjusted) was little changed over the 12 months ending in January for total nonfarm, total private, and government. The number of layoffs and discharges rose over the year for several industries but fell in mining and logging. The number of layoffs and discharges rose in the Midwest. (See table 11.)

In January, there were 341,000 other separations for total nonfarm, little changed from December. The number of other separations also was little changed over the month for total private and government. (See table 6.) Seasonally adjusted estimates of other separations are not available for individual industries or regions. Over the 12 months ending in January, the number of other separations was little changed for total nonfarm, total private, and government. (See table 12.)

Net Change in Employment

Large numbers of hires and separations occur every month throughout the business cycle. Net employment change results from the relationship between hires and separations. When the number of hires exceeds the number of separations, employment rises, even if the hires level is steady or declining.

Conversely, when the number of hires is less than the number of separations, employment declines, even if the hires level is steady or rising. Over the 12 months ending in January 2014, hires totaled 54.3 million and separations totaled 52.1 million, yielding a net employment gain of 2.2 million. These figures include workers who may have been hired and separated more than once during the year.

Annual Levels and Rates

This release contains the 2013 annual levels and rates for hires, total separations, quits, layoffs and discharges, and other separations. Note that annual figures for job openings are not calculated because job openings are measured on a stock, or point-in-time, basis rather than on a flow basis over a specified time period. The annual figures and additional tables are published with the release of January data each year. (See the Technical Note for additional information on these measures.)

Calculating annual levels and rates allows additional comparisons across years. In 2013, annual levels for hires, quits, and other separations rose for the fourth consecutive year. The layoffs and discharges annual level decreased in 2013 after holding steady in 2012.

In 2013, annual hires increased to 54.2 million (39.7 percent of employment) and annual total separations rose to 51.8 million (38.0 percent of employment). Annual quits increased to 27.6 million (20.3 percent of employment) in 2013. Annual layoffs and discharges decreased in 2013 to 20.0 million (14.6 percent of employment). Annual other separations rose in 2013 to 4.3 million (3.1 percent of employment). (See tables 13 through 22.)

The Job Openings and Labor Turnover Survey results for February 2014 are scheduled to be released on Tuesday, April 8, 2014 at 10:00 a.m. (EDT).

Read the entire press release with correlating data tables by going here….