January 12, 2021
The Bureau of Labour Statistics reported that, the number of job openings stood at 6.5 million on the last business day of November. In addition, for November, hires were relatively unchanged at 6.0 million while separations rose to 5.4 million, respectively. Regarding separations, the quits rate stood at 2.2% and layoffs and discharge rate rose 1.4% respectively.
The job openings for the last business day of November stood at 6.5 million. In which, the job openings rate was little changed at 4.4%. Furthermore, the number of job openings went down for n durable goods manufacturing (-48,000), information (-45,000), and educational services (-21,000). BLS highlighted that, “The number of job openings was little changed in all four regions.”
In November, the number of hires was relatively stable at 6.0 million in which the hires rate was unchanged at 4.2%. However, “Hires increased in professional and business services (+175,000) and mining and logging (+13,000). Hires decreased in accommodation and food services (-73,000), other services (-67,000), and information (-43,000). The number of hires was little changed in all four regions.” as indicated by the BLS.
Total separations includes quits, layoffs and discharges, and other separations. Quits are generally voluntary separations initiated by the employee. Layoffs and discharges are involuntary separations initiated by the employer. Total separations rose by 271,000 to 5.4 million in November with a separation rate of 3.8%. While the number of quits slightly changed in November at 3.2 million with a quits rate of 2.2%. As for layoffs and discharges, it closed at 2.0 million (+295,000) in November and at a rate of 1.4%. As indicated by the BLS, “the number of other separations was little changed in November at 287,000. Other separations decreased in federal government (-10,000). The other separations level decreased in the South region.”
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