Job openings little changed at 5.6 million in June; hires
and separations little changed
There were 5.6 million job openings on the last business
day of June, little changed from May. Hires (5.1 million) and separations (4.9
million) were also little changed. The quits rate was 2.0 percent and the
layoffs and discharges rate was 1.1 percent.
The number of job openings was little changed at 5.6
million on the last business day of June, the U.S. Bureau of Labor Statistics
reported today. Hires and separations were little changed at 5.1 million and 4.9
million, respectively. Within separations, the quits rate was 2.0 percent and
the layoffs and discharges rate was 1.1 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
In June, there were 5.6 million job openings, little
changed from May. The job openings rate in June was 3.8 percent. The number of
job openings was essentially unchanged for total nonfarm, total private, and
government. Job openings increased in durable goods manufacturing (+37,000) and
decreased in federal government (-15,000). In the regions, job openings
increased in the South. (See table 1.)
Hires
The number of hires was 5.1 million in June, essentially
the same as May. The hires rate was 3.6
percent in June. The number of hires was little changed
for total private and for government. Hires was also little changed in all
industries. The number of hires increased in the Northeast region. (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, disability,
and transfers to other locations of the same firm.
There were 4.9 million total separations in June, little
changed from May. The total separations rate in June was 3.4 percent. The
number of total separations was essentially unchanged over the month for total
private and for government. The number of total separations was little changed
over the month at the industry level and in all four regions. (See table 3.)
The number of quits held steady in June at 2.9 million.
The quits rate was 2.0 percent. Over the month, the number of quits was little
changed for total private and increased for government (+18,000). The number of
quits increased in state and local government education (+20,000) and was
little changed in all other industries. The number of quits was little changed
in all four regions. (See table 4.)
There were 1.6 million layoffs and discharges in June,
essentially unchanged from May. The layoffs and discharges rate was 1.1
percent. The number of layoffs and discharges held steady over the month for
total private and edged down for government (-19,000). Layoffs and discharges
decreased in state and local government education (-14,000). The number of
layoffs and discharges was little changed over the month in all four regions.
(See table 5.)
The number of other separations was little changed for
total nonfarm, total private, and government in June. Other separations
increased in educational services (+8,000). Other separations was essentially unchanged
over the month in all four regions. (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 June, hires totaled 62.3 million and separations totaled 59.8
million, yielding a net employment gain of 2.5 million. These totals include workers
who may have been hired and separated more than once during the year.
Source: BLS
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