Job openings little changed in September at 5.5 million; hires edge down to 5.1 million
Last edited Tue Nov 8, 2016, 12:43 PM - Edit history (2)
Source: U.S. Bureau of Labor Statistics
Economic News Release USDL-16-2128
Job Openings and Labor Turnover Summary
For release 10:00 a.m. (EST) Tuesday, November 8, 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 – SEPTEMBER 2016
The number of job openings was little changed at 5.5 million on the last business day of September, the U.S. Bureau of Labor Statistics reported today. Hires edged down to 5.1 million and total separations was little changed at 4.9 million. Within separations, the quits rate was unchanged at 2.1 percent and the layoffs and discharges rate decreased to 1.0 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 September, there were 5.5 million job openings, little changed from August. The job openings rate was 3.7 percent in September. The number of job openings was little changed for total private and for government. Job openings was also little changed in all industries and regions. (See table 1.)
Hires
The number of hires edged down to 5.1 million in September (-187,000). The hires rate was 3.5 percent. The number of hires was little changed for total private and for government. Hires decreased in arts, entertainment, and recreation (-63,000) and was little changed in all other industries. The number of hires decreased in the Northeast region (-108,000) and was little changed in all other 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 October 2016 are scheduled to be released on Wednesday, December 7, 2016 at 10:00 a.m. (EST).
Read more: http://www.bls.gov/news.release/jolts.nr0.htm
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Layoffs decreased in health care, arts and entertainment, government, and mining and logging, according to the Labor Department
By Josh Zumbrun
josh.zumbrun@wsj.com
http://twitter.com/JoshZumbrun
Nov 8, 2016 11:00 am ET
The rate of layoffs dipped to a new record low in September, which would be good news but for one thing: The rate of hiring is also down. ... Compared with August, layoffs decreased in health care, arts and entertainment, government, and mining and logging, according to the Labor Department’s monthly Job Openings and Labor Turnover Survey, known as Jolts.
The Jolts report is the Labor Department’s second-tier report on the job market. Its regular monthly jobs report, released on Friday, showed the country added a net 161,000 jobs in October. The Jolts report estimates how much hiring, firing, quitting and other job separations were behind that number.
The layoff rate skyrocketed during the recession in 2007 to 2009, but declined over the course of 2010 and has hovered at unusually low levels for the past five years: The rate first reached its previous record low of 1.1% in 2013. In September, the rate was 1%. ... Weekly reports on the number of Americans filing initial jobless claims also show layoffs have become less common in the U.S. economy, overall, than they used to be.
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What otherwise would be a welcome trend is tempered by the fact that the hiring rate has also been weak. The rate at which Americans are hired into new jobs never fully returned to the pace reached before the last recession in 2005 or 2006. Going back to the tail end of the 1990s, the hiring rate was nearly a full percentage point higher than it is today. ... The hiring rate declined in this months’ report and has dipped from 3.8% in February to 3.5% in September.
So, anything else in the news today?
= new reply since forum marked as read
