Job openings hit a new high of 6.9 million; hires and separations little changed in July

Economic News Release USDL-18-1451

Job Openings and Labor Turnover Summary

For release 10:00 a.m. (EDT) Tuesday, September 11, 2018

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JOB OPENINGS AND LABOR TURNOVER – JULY 2018

The number of job openings was little changed at 6.9 million on the last business day of July, the U.S. Bureau of Labor Statistics reported today. Over the month, hires and separations were little changed at 5.7 million and 5.5 million, respectively. Within separations, the quits rate was little changed at 2.4 percent and the layoffs and discharges rate was unchanged at 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 July, the job openings level was little changed but reached a new series high of 6.9 million. The job openings rate was 4.4 percent. The number of job openings was little changed for total private and for government. Job openings increased in finance and insurance (+46,000) and nondurable goods manufacturing (+32,000) but decreased in retail trade (-85,000), educational services (-34,000), and federal government (-19,000). The number of job openings was little changed in all four regions. (See table 1.)

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Job Openings and Labor Turnover Survey (JOLTS) Data Corrections
This news release contains corrections to previously released data in tables A, 1-3, 5, 7-9, and 11. More information on these corrections as well as a complete list of corrections in this news release and in the JOLTS database can be found at www.bls.gov/bls/errata/jolts-errata-06122018.htm.
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Hires

The number of hires was little changed at 5.7 million in July. The hires rate was 3.8 percent. The number of hires was little changed for total private and for government. Hires decreased in finance and insurance (-36,000). The number of hires was little changed in all four 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 August 2018 are scheduled to be released on Tuesday, October 16, 2018 at 10:00 a.m. (EDT).