Job openings decreased to 5.5 million in May; hires and separations little changed
Last edited Wed Aug 3, 2016, 12:40 PM - Edit history (1)
Source: U.S. Bureau of Labor Statistics
Economic News Release USDL-16-1454
Job Openings and Labor Turnover Summary
For release 10:00 a.m. (EDT) Tuesday, July 12, 2016
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 – MAY 2016
The number of job openings decreased to 5.5 million on the last business day of May, the U.S. Bureau of Labor Statistics reported today. Hires and separations were both little changed at 5.0 million. Within separations, the quits rate was 2.0 percent and the layoffs and discharges rate was 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
Job Openings decreased in May by 345,000 to 5.5 million. The prior 3-month average change in job openings was +80,000. The job openings rate in May 2016 was 3.7 percent. The number of job openings decreased for total private and was little changed for government. Job openings decreased in a number of industries, with the largest changes occurring in wholesale trade (-104,000), other services (-98,000), and real estate and rental and leasing (-53,000). In the regions, job openings decreased in the South and the Midwest. (See table 1.)
Hires
The number of hires was little changed at 5.0 million in May. The hires rate was 3.5 percent. The number of hires was little changed for total private and for government. Hires were little changed in all industries and in all regions in May. (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, and disability, as well as transfers to other locations of the same firm.
There were 5.0 million total separations in May, little changed from April. The total separations rate in May was 3.4 percent. The number of total separations was little changed over the month for total private and for government. In May, total separations decreased in state and local government education (-17,000) and in federal government (-8,000). The number of total separations was little changed over the month in all four regions. (See table 3.)
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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 May, 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 June 2016 are scheduled to be released on Wednesday, August 10, 2016 at 10:00 a.m. (EDT).
Read more: http://www.bls.gov/news.release/jolts.nr0.htm
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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:
Job Openings decreased in May by 345,000 to 5.5 million. The prior 3-month average change in job openings was +80,000. The job openings rate in May 2016 was 3.7 percent. The number of job openings decreased for total private and was little changed for government. Job openings decreased in a number of industries, with the largest changes occurring in wholesale trade (-104,000), other services (-98,000), and real estate and rental and leasing (-53,000). In the regions, job openings decreased in the South and the Midwest. (See table 1.)
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Previously at DU:
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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Basket of employment indicators suggest the U.S. job market bounced back powerfully from an anemic May
By Lisa Beilfuss
lisa.beilfuss@wsj.com
@lisabeilfuss
July 11, 2016 10:40 a.m. ET
A basket of U.S. employment indicators jumped in June, further indication that the nation’s job market sprung back powerfully from an anemic May and remains on solid footing.
The Conference Board said its employment trends index rose 1.4% last month to 128.13 after having declined 1.3% in May. From a year earlier, the index gained 1.8% in June.
[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"
By Neil Irwin
irwinn@washpost.com
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.
