Job Openings Labor Report Q2

JOB OPENINGS AND LABOR TURNOVER – JUNE 2017

The number of job openings increased to 6.2 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 5.4 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 June, the job openings level increased to 6.2 million (+461,000). The job
openings rate was 4.0 percent. The number of job openings increased for total private (+417,000) and
for government (+44,000). Job openings increased in a number of industries with the largest increases
occurring in professional and business services (+179,000), health care and social assistance (+125,000),
and construction (+62,000). Job openings decreased in other services (-62,000). The number of job
openings increased in the Midwest and West regions. (See table 1.)

Hires

The number of hires was little changed at 5.4 million in June. The hires rate was 3.7 percent. The
number of hires was little changed for total private and for government. The number of hires decreased
for educational services (-29,000), but was little changed for all other 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.

The number of total separations was little changed at 5.2 million in June. The total separations rate was
3.6 percent. Total separations was little changed for total private and for government. Total separations
decreased in state and local government, excluding education (-19,000). The number of total separations
was little changed in all four regions. (See table 3.)

The number of quits was little changed at 3.1 million in June. The quits rate was 2.1 percent. The
number of quits was little changed for total private and for government. Quits decreased in finance and
insurance (-21,000). The number of quits was little changed in all four regions. (See table 4.)

There were 1.7 million layoffs and discharges in June, little changed from May. The layoffs and
discharges rate was 1.2 percent in June. The number of layoffs and discharges was little changed for
total private and for government. The layoffs and discharges level was little changed in all industries and
regions. (See table 5.)

The number of other separations was little changed in June. Other separations was essentially
unchanged for total private and for government. Other separations increased in wholesale trade
(+18,000) and other services (+14,000). The number of other separations decreased in information
(-9,000) and state and local government, excluding education (-9,000). In all four regions, the number of
other separations was little changed. (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 63.4 million and
separations totaled 61.1 million, yielding a net employment gain of 2.3 million. These totals include
workers who may have been hired and separated more than once during the year.

____________
The Job Openings and Labor Turnover Survey results for July 2017 are scheduled to be released
on Tuesday, September 12, 2017 at 10:00 a.m. (EDT).

SOURCE: https://www.bls.gov/news.release/jolts.nr0.htm

 

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