Dec job openings reach a series high (7.3 million); hires and separations little changed

Economic News Release USDL-19-0240

Job Openings and Labor Turnover Summary
For release 10:00 a.m. (EST) Tuesday, February 12, 2019

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JOB OPENINGS AND LABOR TURNOVER – DECEMBER 2018

The number of job openings reached a series high of 7.3 million on the last business day of December, the U.S. Bureau of Labor Statistics reported today. Over the month, hires and separations were little changed at 5.9 million and 5.5 million, respectively. Within separations, the quits rate was unchanged at 2.3 percent and the layoffs and discharges rate was little changed 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 December, the job openings level reached a series high of 7.3 million. The
job openings rate was 4.7 percent. The number of job openings edged up for total private (+198,000) and was little changed for government. Job openings increased in a number of industries, with the largest increases in construction (+88,000), accommodation and food services (+84,000), and health care and social assistance (+79,000). The job openings level decreased in a number of industries, with the largest decreases in nondurable goods manufacturing (-37,000), federal government (-32,000), and real estate and rental and leasing (-31,000). Job openings was little changed in all four regions. (See table 1.)

Hires

The number of hires was little changed at 5.9 million in December. The hires rate was 3.9 percent. The hires level was little changed for total private and for government. Hires increased in retail trade (+126,000), educational services (+19,000), and mining and logging (+9,000). Hires decreased in information (-22,000) and in federal government (-10,000). The number of hires increased in the Midwest region. (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 January 2019 are scheduled to be released on Friday, March 15, 2019 at 10:00 a.m. (EDT).