BLS Report: Job openings (7.1 million) and separations little changed in August; hires edge down

[mahatmakanejeeves]

People come; people go.

This is JOLTS, the Job Openings and Labor Turnover Survey. It comes out a few days after the monthly payroll employment report.

The number of quits indicates how confident people are of finding another job if they leave the one they have.

Job openings (7.1 million) and separations little changed in August; hires edge down

Economic News Release USDL-19-1772
Job Openings and Labor Turnover Summary
For release 10:00 a.m. (EDT) Wednesday, October 9, 2019

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

JOB OPENINGS AND LABOR TURNOVER – AUGUST 2019

The number of job openings was little changed at 7.1 million on the last business day of August, the U.S. Bureau of Labor Statistics reported today. Over the month, hires edged down to 5.8 million and separations were little changed at 5.6 million. Within separations, the quits rate was little changed at 2.3 percent, and the layoffs and discharges rate was unchanged at 1.2 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, the job openings level was little changed at 7.1 million. The job openings rate was 4.4 percent. The number of job openings was little changed for total private and for government. The job openings level decreased in nondurable goods manufacturing (-49,000) and in information (-47,000). The number of job openings decreased in the Midwest region. (See table 1.)

Hires

The number of hires edged down to 5.8 million (-199,000) in August. The hires rate was 3.8 percent. The number of hires edged down for total private (-219,000) and was little changed for government. The hires level increased in federal government (+35,000). The number of hires decreased in the South 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 5.6 million in August. The total separations rate was 3.7 percent. The number of total separations was little changed for total private and for government. The total separations level was little changed in all industries. The number of total separations decreased in the Midwest region. (See table 3.)

The number of quits decreased in August to 3.5 million (-142,000). The quits rate was 2.3 percent. The quits level decreased for total private (-144,000) and was little changed for government. Quits decreased in professional and business services (-76,000) and in other services (-67,000). The number of quits decreased in the Midwest region. (See table 4.)

The number of layoffs and discharges was little changed in August at 1.8 million. The layoffs and discharges rate was 1.2 percent. The layoffs and discharges level was little changed for total private and for government. The number of layoffs and discharges increased in federal government (+3,000). The layoffs and discharges level was little changed in all four regions. (See table 5.)

The number of other separations was little changed in August. The other separations level was also little changed for total private and for government. Other separations increased in arts, entertainment, and recreation (+3,000). The number of other separations was little changed in all four regions. (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 August, hires totaled 69.5 million and separations totaled 67.1 million, yielding a net employment gain of 2.4 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 estimates for September 2019 are scheduled to be released on Tuesday, November 5, 2019 at 10:00 a.m. (EST).

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[beachbumbob]

1. with such demand and low rates, you would expect pay would be booming, right? So why is it not?

[Backseat Driver]

2. Public Storage, an REIT company, this week in the Columbus OH District

cut the hours of all Relief Managers 50% thereby causing their effective pay down to $4.25 hr; as FT employees, they performed the same duties as the property Manager at close to the same hourly rate though managers also receive performance bonuses and, often, the perks of a free on-site 2 bdr residence rental with paid utilities. Unclear if the value of this perk is added to the old W-2???

In this district, the manager has the only on-site residence; other properties don't have that feature. The Manager and her family (employed husband and 2 kids) living in such a residence in this district is certainly being housed for weeks now in an Extended Stay as the company rehabs the on-site property because of water and black mold issues.

The rub now: Relief Managers now are PT employees ineligible for healthcare benefits. In addition, the shakeup has many driving across town to a new site property instead of minutes away in their own local neighborhoods, adding added transportation costs for their vehicle. The stats for occupancy of this area's properties are always excellent - always in the high 90 percent range. Business has been so good nationwide, the company poured around $250M into new acquisitions of properties.

The reason for this here: District hired too many Relief Managers, the last hired just days ago??? Guess they think we're all stupid serfs willing to help Trump's BOGUS Labor Stats and their already rich investor-types! Totally FUBAR - most hires around here get better offers and never even show up or call on Day 1.

Oh well, it was thought to be a rather stable means to augment living only on SS (not even at the national average) and, on eligibility, life insurance. With rising rental and grocery costs, it paid the rest of household bills of simple living: all utilities, bundled internet, transportation expenses like car gasoline, insurance, maintenance and licenses, cell phones - emergency job hunts, cable-cutting, grocery cuts (how?), self-grooming of people and furbabies in progress!

Not good for the budget or our physical/mental health; our adult children are also terrified as they plan their lives and resolve their own issues - NOT GOOD!

[mahatmakanejeeves]

3. U.S. Worker Demand Softened Over the Summer

The number of U.S. job openings declined 4% in August from a year earlier to 7.1 million, after registering annual declines in June and July

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