JOB OPENINGS AND LABOR TURNOVER – MARCH 2015
There were 5.0 million job openings on the last business
day of March, little changed from 5.1 million in February, the U.S. Bureau of
Labor Statistics reported today. Hires
were little changed at 5.1 million in March and separations were little changed at 5.0 million. Within separations,
the quits rate was 2.0 percent and the layoffs and discharges rate was 1.3
percent; both rates were little different from the previous month. 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 5.0 million job openings on the last business
day of March, little changed from February.
The job openings rate for March was 3.4 percent. The job
openings level was little changed for total private and government. Job
openings decreased in health care and social assistance but increased in arts,
entertainment, and recreation. The number of job openings was little changed in
all four regions. (See table 1.)
The number of job openings (not seasonally adjusted)
increased over the 12 months ending in March for total nonfarm, total private,
and government. Job openings increased over the year for many industries
including professional and business services, health care and social
assistance, and accommodation and food services. Job openings decreased over
the year in mining and logging. The number of job openings increased over the
year in all four regions. (See table 7.)
Hires
There were 5.1 million hires in March, little changed
from February. The hires rate in March was 3.6 percent. The number of hires was
little changed for total private and government in March. There was little or
no change in the number of hires in all industries and regions over the month.
(See table 2.)
Over the 12 months ending in March, the number of hires
(not seasonally adjusted) increased for total nonfarm and total private and was
little changed for government. Hires increased in wholesale trade as well as in
accommodation and food services. The number of hires decreased in mining and
logging. The number of hires increased in the Midwest 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 5.0 million total separations in March, little
changed from February. The separations rate was 3.5 percent. The number of
total separations was little changed in total private and government but increased
in the Midwest region. (See table 3.)
There were 2.8 million quits in March, little changed
from February. The quits rate in March was 2.0 percent. The number of quits was
little changed for total private and government over the month. The number of
quits increased in March for retail trade as well as for accommodation and food
services. Quits decreased in health care and social assistance. Over the month
the number of quits was little changed in all four regions. (See table 4.)
The number of quits (not seasonally adjusted) increased
over the 12 months ending in March for total nonfarm, total private, and
government. Over the year, quits increased in several industries including retail
trade, health care and social assistance, and accommodation and food services.
The number of quits increased over the year in the Northeast, Midwest, and West
regions. (See table 10.)
There were 1.8 million layoffs and discharges in March,
about the same as in February. The layoffs and discharges rate was 1.3 percent.
The number of layoffs and discharges was little changed over the month for
total private and government, and increased in the Midwest region. (See table
5.) Seasonally adjusted estimates of layoffs and discharges are not available
for individual industries.
The number of layoffs and discharges (not seasonally
adjusted) was little changed over the 12 months ending in March for total
nonfarm, total private, and government. The number of layoffs and discharges increased
in mining and logging but decreased in health care and social assistance. There
was little change in layoffs and discharges in all four regions. (See table
11.)
In March, there were 407,000 other separations for total
nonfarm, about the same as in February. Over the month, the number of other
separations was little changed for total private at 338,000 and unchanged for
government at 69,000. (See table 6.) Seasonally adjusted estimates of other
separations are not available for individual industries or regions.
Over the 12 months ending in March, the number of other
separations (not seasonally adjusted) was little changed for total nonfarm,
total private, and government. Other separations decreased over the year in
real estate and rental and leasing but increased in professional and business
services. Other separations increased in the West region. (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 March 2015, hires totaled 59.7 million
and separations totaled 56.7 million, yielding a net employment gain of 3.0
million. These totals include workers who may have been hired and separated
more than once during the year.
Source: Bureau of Labor Statistics
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