October 9, 2019
The Bureau of Labour Statistics reported that, “the number of job openings was little changed at 7.1 million on the last business day of August.” In addition, for August, hires and separations changed to 5.8 million and 5.6 million, respectively. Regarding quits rate and layoffs and discharge rate, these were little changed at 2.3% and unchanged at 1.2 % respectively.
The job openings for the last business day of August, was little changed at 7.1 million. In which, the job openings rate was 4.4%. Furthermore, the number of job openings was little changed for total private and for government. BLS highlighted that, “job openings level decreased in nondurable goods manufacturing (-49,000) and in information (-47,000). The number of job openings decreased in the Midwest region..”
In August, there was decrease in the number of hires at 5.8 million in which the hires rate was recorded at 3.8%. For total private, the number of hires declined (-219,000) and for government, the hires level was slightly changed. However, “The hires level increased in federal government (+35,000). The number of hires decreased in the South region.”, as indicated by the BLS.
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. Layoffs and discharges are involuntary separations initiated by the employer. Total separations was slightly changed at 5.6 million in August with a rate of 3.7%. While, the number of quits fell in August at 3.5 million with a quits rate of 2.3%. As for layoffs and discharges, it closed at 1.8 million in August and at a rate of 1.2%. As indicated by the BLS, “The number of other separations was little changed in August. The other separations level was also little changed for total private and for government. Other separations increased in arts, entertainment, and recreation (+3,000). The number of other separations was little changed in all four regions.”
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