February 1 , 2022
The number of job openings on the last business day of December remained unchanged at 10.9 million, according to the US Bureau of Labor Statistics. The number of people hired and the number of people who left fell to 6.3 million and 5.9 million, respectively. The quit rate within separations remained unchanged at 2.9 percent. The rate of layoffs and discharges remained unchanged at 0.8 percent, which is a series low. Estimates of the number and rate of job openings, hires, and separations for the whole nonfarm sector, by industry, by four geographic areas, and by establishment size class are included in this release.
The number of job openings was unchanged at 10.9 million on the last business day of December. The rate of job openings remained steady at 6.8%. The highest increases in job openings were in accommodation and food services (+133,000), information (+40,000), nondurable products manufacturing (+31,000), and state and local government education (+31,000 each). Finance and insurance (-89,000) and wholesale trade (-89,000) both had fewer job openings (-48,000). In all four regions, the number of job openings remained relatively unchanged.
The number of hires fell to 6.3 million in December (-333,000). The hires rate remained unchanged at 4.2 percent. Professional and business services hired fewer people (-159,000). The number of people hired in the West has reduced.
Quits, layoffs, and discharges, as well as other separations, are included in total separations. Quits are usually voluntary separations that the employee initiates. As a result, the quit rate can be used to gauge a worker’s willingness or ability to leave a job. Employer-initiated layoffs and discharges are involuntary separations. Separations due to retirement, death, disability, and transfers to other locations within the same firm are examples of other separations.
The overall number of separations fell to 5.9 million in December (-305,000). At 4.0 percent, the total separation rate remained unchanged. Only the federal government (+15,000) had a rise in total separations among the industries. In the Northeast and South, total separations decreased.
Following a series high in November, the number of quits fell to 4.3 million (-161,000) in December. At 2.9 percent, the quit rate remained unchanged. Health care and social assistance (-89,000), accommodation and food services (-64,000), and construction (-44,000) all had a reduction in quits. Manufacturing of nondurable goods saw an increase in quits (+19,000). In the South, the number of people quitting has reduced.
The number and rate of layoffs and discharges were both at series lows in December, at 1.2 million and 0.8 percent, respectively. Retail layoffs and discharges declined (-67,000), but grew (+14,000) in the federal government. In the Northeast, the number of layoffs and discharges declined.
In December, the number of other separations remained unchanged at 392,000. In the durable goods manufacturing industry, other separations have reduced (-7,000). Other separations increased in educational services and arts, leisure, and recreation (+3,000 each). In the West, there was an increase in other separations.
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