There were 4.8 million job openings on the last business
day of August, up from 4.6 million in July, the U.S. Bureau of Labor Statistics
reported today. The hires rate (3.3 percent) was down and the separations rate
(3.2 percent) was essentially unchanged in August. Within separations, the
quits rate (1.8 percent) was unchanged and the layoffs and discharges rate (1.1
percent) was little changed. 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 4.8 million job openings on the last business
day of August and the rate was 3.4 percent.
This was the highest level of job openings since January
2001. The number of job openings increased for total private and was little
changed for government in August. (See table 1.) Job openings levels went up in
nondurable goods manufacturing, health care and social assistance, and in
accommodation and food services. Job
openings fell in state and local government and were little changed in all four
regions.
The number of job openings (not seasonally adjusted)
increased over the 12 months ending in August 2014 for total nonfarm, total
private, and government. The job openings level increased in many of the industries
and in all four regions. (See table 7.)
Hires
There were 4.6 million hires in August, down from 4.9
million in July and the rate was 3.3 percent. The number of hires decreased for
total private and was little changed for government. Hires decreased over the
month in construction and retail trade and also in the South region. (See table
2.)
Over the 12 months ending in August, the number of hires
(not seasonally adjusted) was little changed for total nonfarm, total private,
government, and in all four regions. The hires level decreased over the year
for educational services. (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 4.4 million total separations in August and
the rate was 3.2 percent. The number of
separations was little changed from July for total
nonfarm, total private, and government. (See table 3.)
The number of quits was little changed in August at 2.5
million. The quits rate measured 1.8 percent for the seventh month in a row.
The number of quits was also little changed in August for total private, government,
and all four regions. The number of quits decreased in health care and social
assistance (See table 4.)
The quits level (not seasonally adjusted) increased over
the 12 months ending in August for total
nonfarm and government, and was little changed for total
private. Over the year, the number of quits increased for several industries
and in the Midwest. The quits level was down for information and federal
government. (See table 10.)
The number of layoffs and discharges was little changed
in August at 1.6 million and the rate was 1.1 percent. The number of layoffs
and discharges was little changed over the month for total private, government,
and for 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 August for total nonfarm and total private, and
was down for government. The number of layoffs and discharges increased for
wholesale trade over the year and decreased for educational services,
accommodation and food services, and state and local government. The number was
down in the Midwest over the year. (See table 11.)
In August, there were 387,000 other separations for total
nonfarm, little changed from July. Over the month, the number of other
separations was little changed for total private at 322,000 and for
government at 65,000. (See table 6.) Seasonally adjusted
estimates of other separations are not available for individual industries or
regions.
Over the 12 months ending in August, 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 August 2014, hires totaled 56.2 million and separations totaled 53.6
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
September 2014 are scheduled to be
released on Thursday, November 13, 2014 at 10:00 a.m.
(EST).
- Table A. Job openings, hires, and total separations by industry, seasonally adjusted
- Job Openings and Labor Turnover Technical Note
- Table 1. Job openings levels and rates by industry and region, seasonally adjusted
- Table 2. Hires levels and rates by industry and region, seasonally adjusted
- Table 3. Total separations levels and rates by industry and region, seasonally adjusted
- Table 4. Quits levels and rates by industry and region, seasonally adjusted
- Table 5. Layoffs and discharges levels and rates by industry and region, seasonally adjusted
- Table 6. Other separations levels and rates by industry and region, seasonally adjusted
- Table 7. Job openings levels and rates by industry and region, not seasonally adjusted
- Table 8. Hires levels and rates by industry and region, not seasonally adjusted
- Table 9. Total separations levels and rates by industry and region, not seasonally adjusted
- Table 10. Quits levels and rates by industry and region, not seasonally adjusted
- Table 11. Layoffs and discharges levels and rates by industry and region, not seasonally adjusted
- Table 12. Other separations levels and rates by industry and region, not seasonally adjusted
- HTML version of the entire news release
Source: Bureau of Labor Statistics
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