There were 4.7 million job
openings on the last business day of June, little changed from 4.6 million in
May. The hires rate (3.5 percent) and the separations rate (3.3 percent) held
steady in June.
There were 4.7 million job
openings on the last business day of June, little changed from 4.6 million in May, the U.S. Bureau of Labor Statistics
reported today. The hires rate (3.5 percent) was little changed and the
separations rate (3.3 percent) was unchanged in June. Within separations, the
quits rate (1.8 percent) and the layoffs and discharges rate (1.2 percent) were
unchanged. This release includes estimates of the number and rate of job
openings, hires, and separations for the nonfarm sector by industry and by four
geographic regions.
Job Openings
There were 4.7 million job
openings in June, little changed from 4.6 million in May. In June, the number of
job openings was little changed for total private and government. Over the
month, the number of job openings was little changed for all industries and in
all four regions.
The number of job openings (not
seasonally adjusted) increased over the 12 months ending in June 2014 for total
nonfarm, total private, and government. The job openings level increased for
more than half of the industries but decreased for retail trade. The number of
job openings increased in all four regions.
Over the last 12 months, the
movement of job openings has varied. From June 2013 to January 2014, the number
of job openings was little changed, decreasing by 97,000. However, from January
2014 through June 2014, the number of job openings trended upward by an average
159,000 job openings per month, for a total increase of 797,000 openings.
Hires
There were 4.8 million hires in
June, little changed from 4.7 million in May. The number of hires was little
changed for total private, government, and all industries and regions.
Over the 12 months ending in
June, the number of hires (not seasonally adjusted) increased for total nonfarm
and total private and was little changed for government. The hires level
increased over the year for mining and logging, wholesale trade, retail trade,
and educational services but decreased for construction. The number of hires
increased in the South and West regions.
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 June, little changed from May. The number of total separations
was little changed for total private and government.
The quits rate remained
unchanged at 1.8 percent in June. The quits rate was little changed for total private
(2.1 percent) and remained unchanged for government (0.6 percent). Over the
month, the quits rate was little changed for all industries. The quits rate
increased in the South region in June.
The number of quits (not
seasonally adjusted) increased over the 12 months ending in June for total nonfarm
and total private. The number of quits was little changed for government. Over
the year, the number of quits increased for retail trade, educational services,
health care and social assistance, and accommodation and food services. The
number of quits rose over the year in the South region.
The layoffs and discharges rate
remained unchanged in June at 1.2 percent. The rate was little changed over the
month for total private (1.3 percent) and unchanged for government (0.4
percent). Over the month, the layoffs and discharges rate was essentially
unchanged in all four regions. Seasonally adjusted estimates of layoffs and
discharges are not available for individual industries.
The layoffs and discharges level
(not seasonally adjusted) was little changed over the 12 months ending in June
for total nonfarm and total private and decreased for government. The number of
layoffs and discharges increased over the year for wholesale trade but
decreased for information and state and local government. The number of layoffs
and discharges was little changed in all four regions over the year.
In June, there were 391,000
other separations for total nonfarm, little changed from May. Over the month,
the number of other separations was little changed for total private at 327,000
and decreased to 63,000 for government. (See table 6.) Seasonally adjusted
estimates of other separations are not available for individual industries or
regions. Over the 12 months ending in June, the number of other separations
(not seasonally adjusted) was little changed for total nonfarm and total
private and decreased for government.
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 June 2014, hires
totaled 55.7 million and separations totaled 53.3 million, yielding a net
employment gain of 2.4 million. These figures include workers who may have been
hired and separated more than once during the year.
See the entire BLS JOLTS Report
by going here…
Source: Bureau of Labor Statistics
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