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Thu Oct 12, 2017, 11:10 AM

BLS report: Job openings (6.1 million), hires, and separations little changed in August

This is JOLTS - the Job Openings and Labor Turnover Summary. It usually shows up a few days after the employment report.

Job openings (6.1 million), hires, and separations little changed in August

Economic News Release USDL-17-1366

Job Openings and Labor Turnover Summary

For release 10:00 a.m. (EDT) Wednesday, October 11, 2017

Technical information: (202) 691-5870 • JoltsInfo@bls.gov • www.bls.gov/jlt
Media contact: (202) 691-5902 • PressOffice@bls.gov

JOB OPENINGS AND LABOR TURNOVER – AUGUST 2017

The number of job openings was little changed at 6.1 million on the last business day of August, the U.S. Bureau of Labor Statistics reported today. Over the month, hires and separations were also little changed at 5.4 million and 5.2 million, respectively. Within separations, the quits rate and the layoffs and discharges rate were little changed at 2.1 percent and 1.2 percent, respectively. 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 August, there were 6.1 million job openings, little changed from July. The job openings rate was 4.0 percent in August. The number of job openings was little changed for total private and for government. Job openings increased in health care and social assistance (+71,000) and in durable goods manufacturing (+31,000). Job openings decreased in other services (-95,000), educational services (-51,000), and nondurable goods manufacturing (-48,000). The number of job openings increased in the Midwest region. (See table 1.)

Hires

The number of hires was little changed at 5.4 million in August. The hires rate was 3.7 percent. The number of hires was little changed for total private and for government. The number of hires was little changed in all industries. Hires decreased 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.
....

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 August, hires totaled 63.8 million and separations totaled 61.7 million, yielding a net employment gain of 2.1 million. These totals include workers who may have been hired and separated more than once during the year.

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The Job Openings and Labor Turnover Survey results for September 2017 are scheduled to be released on Tuesday, November 7, 2017 at 10:00 a.m. (EST).

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