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BLS Report: October job openings, hires, and total separations change little; quits increase
Last edited Tue Dec 3, 2024, 03:28 PM - Edit history (2)
People come; people go.
This is JOLTS, the Job Openings and Labor Turnover Survey. It used to come out a few days after the monthly payroll employment report, but now it seems to run on its own schedule.
The number of quits indicates how confident people are of finding another job if they leave the one they have.
October job openings, hires, and total separations change little; quits increase
The number of job openings was little changed at 7.7 million on the last business day of October. Over the month, both hires and total separations, at 5.3 million, changed little. Quits increased to 3.3 million, while layoffs and discharges changed little.
The number of job openings was little changed at 7.7 million on the last business day of October. Over the month, both hires and total separations, at 5.3 million, changed little. Quits increased to 3.3 million, while layoffs and discharges changed little.
Economic News Release USDL-24-2475
Job Openings and Labor Turnover Summary
For release 10:00 a.m. (ET) Tuesday, December 3, 2024
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 – OCTOBER 2024
The number of job openings was little changed at 7.7 million on the last business day of October, the U.S. Bureau of Labor Statistics reported today. Over the month, hires changed little at 5.3 million. The number of total separations was little changed at 5.3 million. Within separations, quits (3.3 million) increased, but layoffs and discharges (1.6 million) changed little. This release includes estimates of the number and rate of job openings, hires, and separations for the total nonfarm sector, by industry, and by establishment size class.
Job Openings
The number of job openings was little changed at 7.7 million on the last business day of October but was down by 941,000 over the year. The job openings rate, at 4.6 percent, changed little over the month. The number of job openings increased in professional and business services (+209,000), accommodation and food services (+162,000), and information (+87,000) but decreased in federal government (-26,000). (See table 1.)
Hires
In October, the number of hires changed little at 5.3 million but was down by 501,000 over the year. The hires rate was little changed at 3.3 percent. Hires decreased in private educational services (-24,000). (See table 2.)
Separations
Total separations include quits, layoffs and discharges, and other separations. 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 include separations due to retirement, death, disability, and transfers to other locations of the same firm.
The number of total separations in October was little changed at 5.3 million but was down by 369,000 over the year. The total separations rate was 3.3 percent for the third month in a row. (See table 3.)
In October, the number of quits increased to 3.3 million (+228,000) but was down by 308,000 over the year. Over the month, the quits rate increased to 2.1 percent. Quits increased in accommodation and food services (+90,000). (See table 4.)
In October, the number and rate of layoffs and discharges changed little at 1.6 million and 1.0 percent, respectively. Layoffs and discharges increased in retail trade (+60,000) but decreased in durable goods manufacturing (-37,000) and in private educational services (-14,000). (See table 5.)
The number of other separations changed little at 301,000 in October. (See table 6.)
Establishment Size Class
The hires rate for establishments with 1 to 9 employees decreased in October, while the job openings, quits, layoffs and discharges, and total separations rates showed little change. For establishments with 5,000 or more employees, the job openings, hires, quits, layoffs and discharges, and total separations rates showed little change. (See table 7.)
September 2024 Revisions
The number of job openings for September was revised down by 71,000 to 7.4 million, the number of hires was revised up 24,000 to 5.6 million, and the number of total separations was unchanged at 5.2 million. Within separations, the number of quits was revised up by 27,000 to 3.1 million, and the number of layoffs and discharges was revised down by 31,000 to 1.8 million. (Monthly revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors.)
____________
The Job Openings and Labor Turnover Survey estimates for November 2024 are scheduled to be released on Tuesday, January 7, 2025, at 10:00 a.m. (ET).
{snip a bunch of tables}
Job Openings and Labor Turnover Summary
For release 10:00 a.m. (ET) Tuesday, December 3, 2024
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 – OCTOBER 2024
The number of job openings was little changed at 7.7 million on the last business day of October, the U.S. Bureau of Labor Statistics reported today. Over the month, hires changed little at 5.3 million. The number of total separations was little changed at 5.3 million. Within separations, quits (3.3 million) increased, but layoffs and discharges (1.6 million) changed little. This release includes estimates of the number and rate of job openings, hires, and separations for the total nonfarm sector, by industry, and by establishment size class.
Job Openings
The number of job openings was little changed at 7.7 million on the last business day of October but was down by 941,000 over the year. The job openings rate, at 4.6 percent, changed little over the month. The number of job openings increased in professional and business services (+209,000), accommodation and food services (+162,000), and information (+87,000) but decreased in federal government (-26,000). (See table 1.)
Hires
In October, the number of hires changed little at 5.3 million but was down by 501,000 over the year. The hires rate was little changed at 3.3 percent. Hires decreased in private educational services (-24,000). (See table 2.)
Separations
Total separations include quits, layoffs and discharges, and other separations. 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 include separations due to retirement, death, disability, and transfers to other locations of the same firm.
The number of total separations in October was little changed at 5.3 million but was down by 369,000 over the year. The total separations rate was 3.3 percent for the third month in a row. (See table 3.)
In October, the number of quits increased to 3.3 million (+228,000) but was down by 308,000 over the year. Over the month, the quits rate increased to 2.1 percent. Quits increased in accommodation and food services (+90,000). (See table 4.)
In October, the number and rate of layoffs and discharges changed little at 1.6 million and 1.0 percent, respectively. Layoffs and discharges increased in retail trade (+60,000) but decreased in durable goods manufacturing (-37,000) and in private educational services (-14,000). (See table 5.)
The number of other separations changed little at 301,000 in October. (See table 6.)
Establishment Size Class
The hires rate for establishments with 1 to 9 employees decreased in October, while the job openings, quits, layoffs and discharges, and total separations rates showed little change. For establishments with 5,000 or more employees, the job openings, hires, quits, layoffs and discharges, and total separations rates showed little change. (See table 7.)
September 2024 Revisions
The number of job openings for September was revised down by 71,000 to 7.4 million, the number of hires was revised up 24,000 to 5.6 million, and the number of total separations was unchanged at 5.2 million. Within separations, the number of quits was revised up by 27,000 to 3.1 million, and the number of layoffs and discharges was revised down by 31,000 to 1.8 million. (Monthly revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors.)
____________
The Job Openings and Labor Turnover Survey estimates for November 2024 are scheduled to be released on Tuesday, January 7, 2025, at 10:00 a.m. (ET).
{snip a bunch of tables}
* * * * *
Facilities for Sensory Impaired
Information from these releases will be made available to sensory impaired individuals upon request. Voice phone: 202-691-5200, Federal Relay Services: 1-800-877-8339.
-- -- -- -- -- --
Some previous reports. I don't post them every month anymore.
Tue Dec 3, 2024, 01:21 PM: Job openings jumped and hiring slumped in October, key labor report for the Fed shows
Tue Dec 3, 2024, 10:03 AM: BLS Report: October job openings, hires, and total separations change little; quits increase (this one)
Tue Oct 29, 2024, 01:09 PM: BLS Report: September job openings and hires change little; total separations unchanged
Tue Oct 29, 2024, 12:24 PM: Consumer confidence surges as election nears, while job openings move lower
Tue Oct 1, 2024: BLS Report: August job openings, hires, and total separations change little; quits trend down
Tue Oct 1, 2024: US job openings rise to 8 million as labor market remains sturdy (in LBN)
Wed Sep 4, 2024, 12:07 PM: US job openings fall as demand for workers weakens (in LBN)
Wed Sep 4, 2024, 10:22 AM: BLS Report: July job openings and hires change little; total separations increase {this one}
Tue Jul 30, 2024: JOLTS - Job Opening & Labor Turnover - nice graph of Openings and Quits. A slight decline in labor mkt conditions
Tue Jul 2, 2024: BLS Report: May job openings, hires, and total separations change little
Wed Jun 5, 2024: BLS Report: April job openings, hires, and total separations change little
Wed May 1, 2024: BLS Report: March job openings and hires change little; total separations decrease
Wed May 1, 2024, 12:28 PM: US job openings fall to 8.5 million in March, the lowest level in more than 3 years (in LBN)
Tue Apr 2, 2024, 03:39 PM: BLS Report: February job openings, hires, and total separations change little
Tue Apr 2, 2024, 03:22 PM: Job openings data shows US labor market remains 'quite healthy' (in LBN)
Wed Jan 3, 2024: BLS Report: Hires and total separations decrease in November; job openings change little
Tue Oct 4, 2022: BLS Report: August job openings decrease; hires and total separations change little
{snip the rest}
Related:
Wed Jan 27, 2021: BLS Report: Gross job losses 20.4 million and gross job gains 5.7 million in the 2nd quarter of 2020
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