Research >> Economics

Job Openings little changed at 7.3 million in June


The number of job openings was little changed at 7.3 million on the last business day of June, the U.S. Bureau of Labor Statistics reported today. Over the month, hires and separations were little changed at 5.7 million and 5.5 million, respectively. Within separations, the quits rate was unchanged at 2.3 percent, and the layoffs and discharges rate was little changed at 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
On the last business day of June, the job openings level was little changed at 7.3 million. The job openings rate was 4.6 percent. The number of job openings was little changed for total private and for government. The job openings level increased in real estate and rental and leasing (+38,000) as well as state and local government education (+20,000). The number of job openings was little changed in all four regions.

Hires
The number of hires was little changed at 5.7 million in June. The hires rate was 3.8 percent. The number of hires was little changed for total private and for government. Hires increased in accommodation and food services (+76,000). The number of hires was little changed in all four regions.

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.

The number of total separations was little changed at 5.5 million in June. The total separations rate was 3.6 percent. The number of total separations was little changed for total private and for government. The total separations level increased in accommodation and food services (+101,000). The number of total separations was little changed in all four regions.

The number of quits was little changed in June at 3.4 million. The quits rate was 2.3 percent. The quits level was little changed for total private and decreased for government (-19,000). Quits decreased in transportation, warehousing, and utilities (-35,000) and state and local government, excluding education (-14,000), but increased in construction (+34,000). The number of quits was little changed in all four regions.

The number of layoffs and discharges was little changed in June at 1.7 million. The layoffs and discharges rate was 1.1 percent. The layoffs and discharges level was little changed for total private and for government. The number of layoffs and discharges decreased in professional and business services (-89,000) as well as arts, entertainment, and recreation (-38,000), but increased in accommodation and food services (+74,000). The layoffs and discharges level decreased in the Northeast region.

The number of other separations was little changed in June. The other separations level edged up for total private (+43,000) and was little changed for government. Other separations increased in other services (+18,000), accommodation and food services (+14,000), and information (+6,000). The number of other separations was little changed in all four regions.

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 69.4 million and separations totaled 66.9 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.






Posted: August 6, 2019 Tuesday 10:00 AM




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