U.S. Job Openings and Labor Turnover Summary in FEBRUARY 2016 | WPN World People News

The number of job openings was little changed at 5.4 million on the last business day of February, the U.S. Bureau of Labor Statistics reported on April 5. Hires increased to 5.4 million while separations were little changed at 5.1 million. Within separations, the quits rate was 2.1 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 were little changed at 5.4 million in February. The job openings rate was 3.7 percent. The number of job openings was little changed in February for total private and for government. Job openings increased in educational services (+48,000) and federal government (+19,000) but decreased in health care and social assistance (-147,000), finance and insurance (-54,000), and mining and logging (-8,000). Job openings edged up in construction (+36,000) and edged down in durable goods manufacturing (-19,000). The number of job openings edged down in the Midwest region.

Hires

The number of hires increased to 5.4 million (+297,000) in February, the highest level since November 2006. The hires rate in February was 3.8 percent. The number of hires increased for total private (+278,000) and was little changed for government. Hires increased in retail trade (+102,000), accommodation and food services (+78,000), educational services (+44,000), and state and local government, excluding education (+25,000). Hires declined in mining and logging (-9,000). In the regions, hires increased in the South.

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 5.1 million total separations in February, little changed from January. The total separations rate in February was 3.5 percent. The number of total separations was little changed for total private and for government. Total separations rose in accommodation and food services (+98,000). In arts, entertainment, and recreation, total separations edged down (-31,000). The number of total separations was little changed over the month in all regions.

The number of quits was little changed in February at 3.0 million. The quits rate was 2.1 percent. Over the month, the number of quits edged up for total private (+107,000) and was little changed for government. Quits increased in health care and social assistance (+32,000) and decreased in mining and logging (-8,000). The number of quits edged up in arts, entertainment, and recreation (+10,000) and edged down in other services (-29,000) and state and local education (-7,000). In the regions, quits
increased in the Midwest.

There were 1.7 million layoffs and discharges in February, little changed from January. The layoffs and discharges rate was 1.2 percent. The number of layoffs and discharges was little changed over the month for total private and for government. In February, layoffs and discharges decreased in arts, entertainment, and recreation (-41,000) and federal government (-6,000). Layoffs and discharges edged up in accommodation and food services (+58,000). The number of layoffs and discharges edged down in the Midwest.

In February, other separations was little changed for total nonfarm, edged down for total private (-44,000), and edged up for government (+8,000). The number of other separations increased in retail trade (+31,000), nondurable goods manufacturing (+5,000), mining and logging (+3,000), and federal government (+3,000). Other separations decreased in health care and social assistance (-29,000), finance and insurance (-14,000), transportation, warehousing, and utilities (-10,000), real estate and rental and leasing (-8,000), and information (-6,000). In the regions, the number of other separations declined in the Northeast.

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 February, hires totaled 62.1 million and separations totaled 59.4 million, yielding a net employment gain of 2.7 million. These totals include workers who may have been hired and separated more than once during the year.

Source: U.S. Bureau of Labor Statistics