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Job Openings little changed at 6.5 million in November
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The number of job openings was little changed at 6.5 million on the last business day of November, the U.S. Bureau of Labor Statistics reported today. Hires were little changed at 6.0 million while total separations increased to 5.4 million. Within separations, the quits rate was unchanged at 2.2 percent while the layoffs and discharges rate increased to 1.4 percent. This release includes estimates of the number and rate of job openings, hires, and separations for the total nonfarm sector, by industry, and by four geographic regions.
Job Openings
On the last business day of November, the number and rate of job openings were little changed at 6.5 million and 4.4 percent, respectively. Job openings decreased in durable goods manufacturing (-48,000), information (-45,000), and educational services (-21,000). The number of job openings was little changed in all four regions.
Over the year, the number of job openings (not seasonally adjusted) was little changed in November. Job openings decreased in a number of industries over the year with the largest decreases in accommodation and food services; transportation, warehousing, and utilities; and information. The job openings level increased in nondurable goods manufacturing and in other services. The number of job openings was little changed in all four regions.
Hires
In November, the number of hires was little changed at 6.0 million, and the hires rate was unchanged at 4.2 percent. Hires increased in professional and business services (+175,000) and mining and logging (+13,000). Hires decreased in accommodation and food services (-73,000), other services (-67,000), and information (-43,000). The number of hires was little changed in all four regions.
The number of hires in November (not seasonally adjusted) was little changed over the year. Hires increased in professional and business services; transportation, warehousing, and utilities; and nondurable goods manufacturing. Hires decreased in accommodation and food services and in information. The number of hires increased in the South region.
Separations
Total separations includes quits, layoffs and discharges, and other separations. 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.
In November, the number of total separations increased to 5.4 million (+271,000). The total separations rate was little changed at 3.8 percent. Total separations increased in accommodation and food services (+326,000). The total separations level decreased in federal government (-70,000) and real estate and rental and leasing (-27,000). Total separations increased in the West region.
Over the year, the number of total separations (not seasonally adjusted) was little changed. Total separations increased in accommodation and food services and in federal government. Total separations decreased in retail trade and in arts, entertainment, and recreation. The number of total separations was little changed in all four regions.
In November, the number of quits was little changed at 3.2 million, and the quits rate was unchanged at 2.2 percent. Quits increased in accommodation and food services (+64,000). The quits level decreased in health care and social assistance (-52,000), real estate and rental and leasing (-17,000), and federal government (-6,000). The number of quits was little changed in all four regions.
Over the year, the number of quits (not seasonally adjusted) decreased to 2.7 million (-241,000). Quits declined in several industries, with the largest decreases in retail trade; arts, entertainment, and recreation; and finance and insurance. Quits increased in durable goods manufacturing and in federal government. The number of quits decreased in the West region.
The number and rate of layoffs and discharges increased to 2.0 million (+295,000) and 1.4 percent, respectively in November. The number of layoffs and discharges increased in accommodation and food services (+263,000), health care and social assistance (+42,000), and state and local government, excluding education (+21,000). Layoffs and discharges decreased in federal government (-54,000), but the overall level remained high due to the continued release of 2020 temporary Census workers in November. Layoffs and discharges increased in the West region.
Over the year, the layoffs and discharges level (not seasonally adjusted) increased to 2.0 million (+201,000). Layoffs and discharges increased in accommodation and food services and in federal government. The number of layoffs and discharges decreased in arts, entertainment, and recreation and in mining and logging. The number of layoffs and discharges increased over the year in the Midwest and West regions.
The number of other separations was little changed in November at 287,000. Other separations decreased in federal government (-10,000). The other separations level decreased in the South region.
Over the year, the other separations level (not seasonally adjusted) decreased to 237,000 (-69,000). Other separations decreased in retail trade; other services; and state and local government, excluding education. The number of other separations decreased in the South region.
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 November, hires totaled 70.7 million and separations totaled 75.9 million, yielding a net employment loss of 5.2 million. These totals include workers who may have been hired and separated more than once during the year.
Posted: January 12, 2021 Tuesday 10:00 AM