Job openings decrease to 5.4 million in August; hires and separations little changed
Source: U.S. Bureau of labor Statistics
Economic News Release USDL-16-1991
Job Openings and Labor Turnover Summary
For release 10:00 a.m. (EDT) Wednesday, October 12, 2016
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JOB OPENINGS AND LABOR TURNOVER – AUGUST 2016
The number of job openings decreased to 5.4 million on the last business day of August, the U.S. Bureau of Labor Statistics reported today. Hires and separations were little changed at 5.2 million and 5.0 million, respectively. Within separations, the quits rate was 2.1 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
On the last business day of August, there were 5.4 million job openings, a decrease of 388,000 from July. The job openings rate was 3.6 percent in August. The number of job openings decreased over the month for total private (-348,000) and for government (-39,000). Job openings decreased in a number of industries, with the largest changes occurring in professional and business services (-223,000), durable goods manufacturing (-29,000), and arts, entertainment, and recreation (-28,000). In the regions, job openings decreased in the South and the Midwest. (See table 1.)
Hires
The number of hires was 5.2 million in August, little changed from July. The hires rate was 3.6 percent in August. The number of hires was little changed for total private and for government. Hires was also little changed in all industries and regions. (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.
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The Job Openings and Labor Turnover Survey results for September 2016 are scheduled to be released on Tuesday, November 8, 2016 at 10:00 a.m. (EST).
Read more: http://www.bls.gov/news.release/jolts.nr0.htm
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