Job openings little changed at 5.6 million in June; hires and separations little changed

[mahatmakanejeeves]

Source: U.S. Bureau of Labor Statistics

Economic News Release USDL-16-1653

Job Openings and Labor Turnover Summary

For release 10:00 a.m. (EDT) Wednesday, August 10, 2016

Technical information: [phone] • [e-mail] • www.bls.gov/jlt
Media contact: [phone] • [e-mail]

JOB OPENINGS AND LABOR TURNOVER – JUNE 2016

The number of job openings was little changed at 5.6 million on the last business day of June, the U.S. Bureau of Labor Statistics reported today. Hires and separations were little changed at 5.1 million and 4.9 million, respectively. Within separations, the quits rate was 2.0 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

In June, there were 5.6 million job openings, little changed from May. The job openings rate in June was 3.8 percent. The number of job openings was essentially unchanged for total nonfarm, total private, and government. Job openings increased in durable goods manufacturing (+37,000) and decreased in federal government (-15,000). In the regions, job openings increased in the South. (See table 1.)

Hires

The number of hires was 5.1 million in June, essentially the same as May. The hires rate was 3.6 percent in June. The number of hires was little changed for total private and for government. Hires was also little changed in all industries. The number of hires increased 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.

There were 4.9 million total separations in June, little changed from May. The total separations rate in June was 3.4 percent. The number of total separations was essentially unchanged over the month for total private and for government. The number of total separations was little changed over the month at the industry level and in all four regions. (See table 3.)
....

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 62.3 million and separations totaled 59.8 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.
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The Job Openings and Labor Turnover Survey results for July 2016 are scheduled to be released on Wednesday, September 7, 2016 at 10:00 a.m. (EDT).

Read more: http://www.bls.gov/news.release/jolts.nr0.htm

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Information from this release will be made available to sensory impaired individuals upon request. Voice phone: [phone], Federal Relay Services: 1-800-877-8339.

I know: all the jobs were at McDonald's, they were all part-time, and they all paid below minimum wage.

Now please read this:

In June, there were 5.6 million job openings, little changed from May. The job openings rate in June was 3.8 percent. The number of job openings was essentially unchanged for total nonfarm, total private, and government. Job openings increased in durable goods manufacturing (+37,000) and decreased in federal government (-15,000). In the regions, job openings increased in the South. (See table 1.)

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Previously at DU:

Job openings decreased to 5.5 million in May; hires and separations little changed

Job openings little changed at 5.8 million in April; hires edge down to 5.1 million

Job openings little changed at 5.8 million in March; hires edged down to 5.3 million

Job openings little changed at 5.4 million in February: hires increase to 5.4 million

Job openings rise to 5.5 million in January; annual hires and quits increase in 2015

Job openings rose to 5.6 million in December; quits rose to 3.1 million

Job openings little changed at 5.4 million in November

Job openings little changed at 5.4 million in October

Job openings little changed at 5.5 million in September

Job openings decrease to 5.4 million in August; hires and separations are little changed

Job Openings in July Rise to Record High

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[font color=red]New material, added August 2, 2106:[/font] (Yes. It takes me that long to clean house.)

Title in print edition of Washington Post, Wednesday, May 8, 2013, Page A13: "For labor market, quitting is a healthy attitude"

Churn, baby, churn: The labor market won’t be healthy until people feel like they can quit their jobs

By Neil Irwin
[e-mail]

May 7, 2013

America needs more quitters.

Or the job market does, anyway. That’s the lesson to draw from the latest Labor Department report, which shows the soft underbelly of the U.S. jobs picture. The unemployment rate may be falling and the number of jobs rising. But there isn’t enough “churn” going on, a hallmark of a healthy job market, in which people freely move between positions.

Let’s back up a minute. On the first Friday of every month, the world holds its breath at 8:30 a.m. to await the jobs report, telling how many jobs were created in the previous month, what the unemployment rate was, and what happened to wages. But those numbers are a blunt picture of the labor market. Tuesday morning, the Labor Department released the Job Openings and Labor Turnover Survey, or JOLTS, for March. It is the favorite data series of labor market wonks everywhere. It parses the details of how many people quit their jobs, how many were laid off or fired, and how many openings employers are looking to fill.

The more standard job numbers point to solid economic improvement over the last year: In the 12 months ending in March, the unemployment rate fell from 8.2 percent to 7.6 percent, and added an average of 168,000 jobs a month. The JOLTS numbers point to something less sunny.