April 06, 2020
Job openings recorded a slight change to 6.9 million at the end of February according to the Bureau of Labour Statistics. For February, hires and separations were little changed to 5.9 million and 5.6 million, respectively. Regarding the quits rate and layoffs and discharge rate, these were unchanged at 2.3% and 1.2 % respectively.
Job Openings
The job openings for the last business day of February was relatively unchanged at 6.9 million. In which, the job openings rate was also little changed at 4.3%. Furthermore, the number of job openings went down in real estate and rental and leasing (-30,000) and information (-29,000). The number of job openings was little changed in all four regions.
Hires
In February, the number of hires was relatively stable at 5.9 million in which the hires rate was recorded at 3.9%. However, “the hires level increased in durable goods manufacturing (+29,000). The number of hires was little changed in all four regions,” as indicated by the BLS.
Separations
Total separations include quits, layoffs and discharges, and other separations. Total separations is referred to as turnover. Quits are generally voluntary separations initiated by the employee. Layoffs and discharges are involuntary separations initiated by the employer. Total separations were slightly changed at 5.6 million in February with a rate of 3.6%. While, the number of quits slightly changed in February at 3.5 million with a quits rate of 2.3%. As for layoffs and discharges, it closed at 1.8 million in February and at a rate of 1.2%. As indicated by the BLS, “other separations decreased in February (-80,000). Other separations decreased for total private (-79,000) and was unchanged for government.”
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