November 5, 2019
The Bureau of Labour Statistics reported that, “the number of job openings edged down to 7.0 million (-277,000) on the last business day of September.” In addition, for September, hires and separations changed to 5.9 million and 5.8 million, respectively. Regarding quits rate and layoffs and discharge rate, these were little changed at 2.3% and unchanged at 1.3 % respectively.
The job openings for the last business day of September fell 7.0 million (-277,000). In which, the job openings rate was 4.4%. Furthermore, the number of job openings went down for total private (-262,000) and was little changed for government. BLS highlighted that, “the job openings level decreased in health care and social assistance (-124,000), retail trade (-102,000), and federal government (-19,000). Job openings increased in information (+25,000). The number of job openings decreased in the Northeast region.”
In September, the number of hires was relatively stable at 5.9 million in which the hires rate was recorded at 3.9%. The number of hires was little changed for total private and for government. However, “the hires level decreased in federal government (-30,000). 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. 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 5.8 million in September with a rate of 3.8%. While, the number of quits slightly changed in September at 3.5 million with a quits rate of 2.3%. As for layoffs and discharges, it closed at 2.0 million in September and at a rate of 1.3%. As indicated by the BLS, “the number of other separations was little changed in September. The other separations level was also little changed for total private and for government. Other separations increased in accommodation and food services (+15,000) and in nondurable goods manufacturing (+5,000). The number of other separations was little changed in all four regions.”
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