Job openings steady at 4.7 million in July; hires and
separations also steady
There were 4.7 million job openings on the last business
day of July, little changed from June, the U.S. Bureau of Labor Statistics
reported today. The hires rate (3.5 percent) and the separations rate (3.3percent)
were unchanged in July. 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 on the last business
day of July and the rate was 3.3 percent. The 1-month change in the number of
openings was not significant for total private, government, all industries, and
in all four regions. (See table 1.) Although the number of total nonfarm job
openings was little changed in July, there were 799,000 more job openings in
July than in January 2014. The largest increases since January were in retail
trade, professional and business services, and health care and social
assistance.
The number of job openings (not seasonally adjusted)
increased over the 12 months ending in July 2014 for total nonfarm, total
private, and government. The job openings level increased in several of the industries
and in all four regions. (See table 7.)
Hires
There were 4.9 million hires in July, little changed from
June and the rate was 3.5 percent. The number of hires was little changed for
total private and government and in all four regions. Hires increased over the
month in construction. (See table 2.)
Over the 12 months ending in July, 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
construction and retail trade but decreased for educational services. The
number of hires increased in the South region. (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 4.6 million total separations in July and the
rate was 3.3 percent. The number of separations was little changed from June
for total nonfarm, total private, and government. (See table 3.)
The number of quits was little changed in July at 2.5
million. The quits rate measured 1.8 percent for the sixth month in a row. The
number of quits was also little changed in July for total private, government, all
industries, and all four regions. (See table 4.)
The quits level (not seasonally adjusted) increased over
the 12 months ending in July for total nonfarm and total private and was little
changed for government. Over the year, the number of quits increased for several
industries and in the Midwest and West regions. (See table 10.)
The number of layoffs and discharges was little changed
in July at 1.7 million. The rate measured 1.2 percent in July for the eighth
month in a row. The number of layoffs and discharges was little changed over
the month for total private and fell for government. The number was little
changed in all four regions. (See table 5.) 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 July for total nonfarm, total private, and
government. The number of layoffs and discharges decreased over the year for
finance and insurance and for educational services. The number was little changed
in all four regions over the year. (See table 11.)
In July, there were 382,000 other separations for total
nonfarm, little changed from June. Over the month, the number of other
separations was little changed for total private at 319,000 and for government
at 64,000. (See table 6.) Seasonally adjusted estimates of other separations
are not available for individual industries or regions.
Over the 12 months ending in July, the number of other
separations (not seasonally adjusted) 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 July 2014, hires totaled 56.0 million and
separations totaled 53.5 million, yielding a net employment gain of 2.5
million. These figures include workers who may have been hired and separated
more than once during the year.
The Job Openings and Labor Turnover Survey results for
August 2014 are scheduled to be released on Tuesday, October 7, 2014 at 10:00
a.m. (EDT).
Source: Bureau of Labor Statistics
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