JOB OPENINGS AND LABOR TURNOVER – MARCH 2016
The number of job openings was little changed at 5.8
million on the last business day of March, the U.S. Bureau of Labor Statistics
reported today. Hires edged down to 5.3 million while separations were little changed
at 5.0 million. Within separations, the quits rate was 2.1 percent, and the
layoffs and discharges rate was 1.2 percent. 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
Job openings were little changed at 5.8 million in March.
The job openings rate was 3.9 percent. The number of job openings was little
changed in March for total private and edged up for government. Job openings
increased in professional and business services (+124,000), transportation,
warehousing, and utilities (+35,000), and nondurable goods manufacturing
(+29,000). Job openings decreased in retail trade (-80,000), educational
services (-36,000), and wholesale trade (-35,000). The number of job openings
was little changed in all four regions. (See table 1.)
Hires
The number of hires edged down to 5.3 million in March.
The hires rate was 3.7 percent. The number of hires decreased for total private
(-241,000) and was little changed for government. Hires rose in state and local
government education (+23,000), but fell in retail trade (-85,000) and
educational services (-21,000). In the regions, hires decreased in the West.
(See table 2.)
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 includes 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 total separations rate in March was 3.5 percent. The
number of total separations was little changed for total private and for
government. Total separations decreased in finance and insurance (-38,000). The
number of total separations was down in the South region. (See table 3.)
The number of quits was little changed in March at 3.0
million. The quits rate was 2.1 percent. Over the month, the number of quits
was little changed for total private and government. Quits increased in construction
(+50,000) and state and local government, excluding education (+9,000). Quits
decreased in finance and insurance (-38,000) and arts, entertainment, and
recreation (-19,000). The number of quits was little changed in all four
regions. (See table 4.)
There were 1.7 million layoffs and discharges in March,
little changed from February. The layoffs and discharges rate was 1.2 percent.
The number of layoffs and discharges was little changed over the month for
total private and for government. In March, layoffs and discharges rose in
arts, entertainment, and recreation (+35,000) but fell in mining and logging
(-6,000). The number of layoffs and discharges decreased in the South region.
(See table 5.)
In March, other separations was little changed for total
nonfarm, total private, and government. The number of other separations
decreased in retail trade (-22,000), nondurable goods manufacturing (-7,000),
and information (-5,000). In the regions, the number of other separations
increased in the Northeast and Midwest but decreased in the West. (See table
6.)
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, hires totaled 62.4 million and separations totaled 59.6
million, yielding a net employment gain of 2.8 million. These totals include workers
who may have been hired and separated more than once during the year.
Source: BLS
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